PTC Therapeutics (NASDAQ:PTCT) VP Sells $822,836.30 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 10,462 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $78.65, for a total value of $822,836.30. Following the transaction, the vice president directly owned 105,272 shares in the company, valued at $8,279,642.80. This trade represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Friday, May 15th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The stock was sold at an average price of $72.18, for a total value of $202,970.16.
• On Friday, May 8th, Mark Elliott Boulding sold 3,540 shares of PTC Therapeutics stock. The shares were sold at an average price of $78.97, for a total transaction of $279,553.80.
• On Monday, April 6th, Mark Elliott Boulding sold 2,265 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.45, for a total transaction of $157,304.25.

PTC Therapeutics Stock Up 2.8%

PTCT opened at $84.41 on Thursday. The firm’s 50 day moving average is $72.12 and its 200-day moving average is $71.98. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $87.50. The firm has a market capitalization of $7.00 billion, a P/E ratio of -36.23, a P/E/G ratio of 3.78 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.42. The business had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.04 earnings per share. Equities analysts expect that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Trading of PTC Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. acquired a new position in PTC Therapeutics during the 4th quarter worth $26,000. Optiver Holding B.V. increased its position in shares of PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the last quarter. Comerica Bank increased its position in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of PTC Therapeutics in the 4th quarter valued at about $41,000. Finally, IFP Advisors Inc raised its stake in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PTCT shares. Citigroup raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $75.00 to $108.00 in a research report on Tuesday, June 9th. Wells Fargo & Company lifted their target price on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Raymond James Financial initiated coverage on PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target on the stock. Royal Bank Of Canada increased their price target on PTC Therapeutics from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the company from $75.00 to $90.00 in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.36.

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.