PTC Therapeutics (NASDAQ:PTCT) Stock: Insider Mark Elliott Boulding Sells 435 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Boulding sold 435 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $64.16, for a total value of $27,909.60. Following the sale, the vice president owned 105,272 shares in the company, valued at approximately $6,754,251.52. The trade was a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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, 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 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 Down 1.1%

Shares of PTCT opened at $62.56 on Friday. The business’s 50-day moving average price is $68.43 and its 200-day moving average price is $71.98. PTC Therapeutics, Inc. has a twelve month low of $61.23 and a twelve month high of $90.87. The stock has a market cap of $5.22 billion, a PE ratio of -107.86, a P/E/G ratio of 1.95 and a beta of 0.49.

PTC Therapeutics (NASDAQ:PTCT) last announced 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 analysts’ expectations of $298.63 million. The company’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.83) earnings per share. Analysts expect that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on PTCT shares. Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Leerink Partners assumed coverage on PTC Therapeutics in a research report on Monday, September 14th. They issued an “outperform” rating and a $98.00 price objective on the stock. Royal Bank Of Canada dropped their price objective on PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Wednesday. Weiss Ratings cut PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, September 17th. Finally, Wells Fargo & Company upped their target price on PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. One equities 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.25.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of PTC Therapeutics by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 151 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of PTC Therapeutics by 1.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,730 shares of the biopharmaceutical company’s stock valued at $1,120,000 after purchasing an additional 237 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of PTC Therapeutics by 8.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock valued at $213,000 after purchasing an additional 244 shares during the last quarter. Evolve Private Wealth LLC raised its position in PTC Therapeutics by 5.2% in the 1st quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 305 shares during the period. Finally, New York State Teachers Retirement System raised its position in PTC Therapeutics by 0.7% in the 1st quarter. New York State Teachers Retirement System now owns 44,953 shares of the biopharmaceutical company’s stock worth $3,063,000 after purchasing an additional 316 shares during the period.

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.