Insider Selling: PTC Therapeutics (NASDAQ:PTCT) VP Sells $308,766.48 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 4,033 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $76.56, for a total transaction of $308,766.48. Following the transaction, the vice president owned 113,626 shares of the company’s stock, valued at approximately $8,699,206.56. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, January 9th, Mark Elliott Boulding sold 2,314 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.93, for a total transaction of $180,330.02.
• On Tuesday, January 6th, Mark Elliott Boulding sold 1,739 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.95, for a total transaction of $133,816.05.
• On Wednesday, January 7th, Mark Elliott Boulding sold 4,879 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.44, for a total transaction of $377,829.76.
• On Monday, January 5th, Mark Elliott Boulding sold 2,266 shares of PTC Therapeutics stock. The shares were sold at an average price of $75.55, for a total value of $171,196.30.
• On Monday, November 17th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The shares were sold at an average price of $75.99, for a total value of $213,683.88.

PTC Therapeutics Stock Up 2.5%

PTCT opened at $77.29 on Thursday. The firm has a market cap of $6.21 billion, a PE ratio of 9.03 and a beta of 0.49. The business has a fifty day simple moving average of $77.07 and a 200-day simple moving average of $63.38. PTC Therapeutics, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The business had revenue of $211.01 million during the quarter, compared to the consensus estimate of $177.42 million. During the same period in the prior year, the business posted ($1.39) earnings per share. PTC Therapeutics’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC raised its holdings in PTC Therapeutics by 337.7% during the second quarter. AlphaQuest LLC now owns 7,909 shares of the biopharmaceutical company’s stock valued at $386,000 after buying an additional 6,102 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of PTC Therapeutics during the 2nd quarter worth about $486,000. Prudential Financial Inc. increased its holdings in shares of PTC Therapeutics by 35.5% during the 2nd quarter. Prudential Financial Inc. now owns 84,250 shares of the biopharmaceutical company’s stock valued at $4,115,000 after acquiring an additional 22,060 shares during the last quarter. Hussman Strategic Advisors Inc. raised its stake in shares of PTC Therapeutics by 200.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock valued at $3,077,000 after acquiring an additional 42,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of PTC Therapeutics by 458.8% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 27,832 shares of the biopharmaceutical company’s stock valued at $1,359,000 after acquiring an additional 22,851 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PTCT. Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, November 5th. The Goldman Sachs Group lifted their price objective on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th. Wells Fargo & Company increased their target price on PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. TD Cowen raised their target price on PTC Therapeutics from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Finally, Jefferies Financial Group upped their price target on PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.27.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.