PTC Therapeutics (NASDAQ:PTCT) VP Sells $180,330.02 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,314 shares of PTC Therapeutics stock in a transaction on Friday, January 9th. The shares were sold at an average price of $77.93, for a total value of $180,330.02. Following the completion of the sale, the vice president directly owned 111,312 shares of the company’s stock, valued at $8,674,544.16. The trade was a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, January 8th, Mark Elliott Boulding sold 4,033 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.56, for a total value of $308,766.48.
• 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 value 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 stock was sold at an average price of $75.55, for a total transaction 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 transaction of $213,683.88.

PTC Therapeutics Stock Up 2.5%

Shares of PTCT opened at $77.29 on Thursday. PTC Therapeutics, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $87.50. The firm’s 50 day moving average price is $77.07 and its 200 day moving average price is $63.38. The company has a market cap of $6.21 billion, a P/E ratio of 9.03 and a beta of 0.49.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly 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. The company had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted ($1.39) EPS. Research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new position in PTC Therapeutics in the first quarter valued at approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of PTC Therapeutics by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock valued at $9,109,000 after buying an additional 18,504 shares during the last quarter. Intech Investment Management LLC grew its position in shares of PTC Therapeutics by 62.8% in the 1st quarter. Intech Investment Management LLC now owns 39,307 shares of the biopharmaceutical company’s stock valued at $2,003,000 after buying an additional 15,167 shares during the last quarter. Acadian Asset Management LLC raised its stake in PTC Therapeutics by 6.1% during the 1st quarter. Acadian Asset Management LLC now owns 37,435 shares of the biopharmaceutical company’s stock worth $1,904,000 after acquiring an additional 2,140 shares in the last quarter. Finally, Strs Ohio purchased a new stake in PTC Therapeutics in the first quarter valued at $438,000.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank Of Canada cut PTC Therapeutics from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $82.00 to $91.00 in a research note on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday, December 29th. Barclays upped their target price on shares of PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Citigroup lifted their price target on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company boosted their price target on shares of PTC Therapeutics from $73.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.