PTC Therapeutics (NASDAQ:PTCT) Stock: Insider Mark Elliott Boulding Sells 192 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Boulding sold 192 shares of the firm’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $64.26, for a total transaction of $12,337.92. Following the completion of the transaction, the vice president directly owned 105,272 shares in the company, valued at $6,764,778.72. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Elliott Boulding also recently made the following trade(s):

• On Monday, October 5th, Mark Boulding sold 1,638 shares of PTC Therapeutics stock. The stock was sold at an average price of $64.03, for a total value of $104,881.14.
• On Tuesday, October 6th, Mark Boulding sold 435 shares of PTC Therapeutics stock. The stock was sold at an average price of $64.16, for a total value of $27,909.60.
• On Monday, August 17th, Mark Boulding sold 2,813 shares of PTC Therapeutics stock. The shares were sold at an average price of $72.57, for a total value of $204,139.41.

PTC Therapeutics Stock Performance

NASDAQ PTCT opened at $59.67 on Thursday. The stock’s 50 day simple moving average is $67.89 and its 200-day simple moving average is $71.85. PTC Therapeutics, Inc. has a 1-year low of $58.80 and a 1-year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. The firm had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. During the same period in the prior year, the firm earned ($0.83) earnings per share. The business’s revenue was up 101.5% on a year-over-year basis. As a group, sell-side analysts forecast that PTC Therapeutics, Inc. will post 1.19 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Morgan Stanley increased their target price on shares of PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Wall Street Zen downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 10th. Finally, Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.62.

Institutional Trading of PTC Therapeutics

Several large investors have recently added to or reduced their stakes in PTCT. BlackRock Inc. acquired a new position in PTC Therapeutics in the 2nd quarter valued at about $1,139,089,000. Jupiter Topco LLC purchased a new stake in shares of PTC Therapeutics in the 2nd quarter valued at approximately $590,182,000. Janus Henderson Group PLC grew its stake in shares of PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after buying an additional 2,342,101 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of PTC Therapeutics in the 2nd quarter valued at approximately $140,520,000. Finally, Bank of America Corp DE acquired a new stake in shares of PTC Therapeutics during the 2nd quarter worth approximately $118,462,000.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.