PTC Therapeutics (NASDAQ:PTCT) VP Sells $204,139.41 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,813 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $72.57, for a total value of $204,139.41. Following the sale, the vice president owned 105,272 shares of the company’s stock, valued at approximately $7,639,589.04. This represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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, July 6th, Mark Elliott Boulding sold 5,079 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.08, for a total value of $432,121.32.
• On Wednesday, June 17th, Mark Elliott Boulding sold 10,462 shares of PTC Therapeutics stock. The shares were sold at an average price of $78.65, for a total value of $822,836.30.

PTC Therapeutics Price Performance

NASDAQ PTCT traded up $1.04 during trading on Wednesday, hitting $73.67. The company’s stock had a trading volume of 1,514,567 shares, compared to its average volume of 1,439,126. PTC Therapeutics, Inc. has a fifty-two week low of $48.09 and a fifty-two week high of $90.87. The company has a market cap of $6.15 billion, a PE ratio of -127.02, a P/E/G ratio of 2.21 and a beta of 0.56. The business’s 50 day simple moving average is $77.81 and its 200-day simple moving average is $72.43.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The company had revenue of $360.52 million during the quarter, compared to analysts’ expectations of $298.63 million. During the same period last year, the business earned ($0.83) EPS. PTC Therapeutics’s revenue for the quarter was up 101.5% on a year-over-year basis. Analysts expect that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of PTC Therapeutics during the second quarter valued at approximately $1,139,089,000. Vanguard Group Inc. increased its position in shares of PTC Therapeutics by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock worth $668,691,000 after purchasing an additional 514,204 shares in the last quarter. Jupiter Topco LLC acquired a new position in PTC Therapeutics in the 2nd quarter valued at $590,182,000. Janus Henderson Group PLC lifted its holdings in 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 purchasing an additional 2,342,101 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in PTC Therapeutics by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock valued at $301,856,000 after purchasing an additional 224,481 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PTCT shares. Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Cantor Fitzgerald boosted their price objective on PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the company from $75.00 to $108.00 in a research report on Tuesday, June 9th. Finally, TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $90.00 in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.55.

About PTC Therapeutics

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.