PTC Therapeutics (NASDAQ:PTCT) VP Sells $157,304.25 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,265 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $69.45, for a total transaction of $157,304.25. Following the transaction, the vice president owned 105,212 shares in the company, valued at approximately $7,306,973.40. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Thursday, February 19th, Mark Elliott Boulding sold 3,019 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.48, for a total transaction of $209,760.12.
• On Wednesday, February 18th, Mark Elliott Boulding sold 3,081 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total transaction of $213,698.16.
• On Tuesday, February 17th, Mark Elliott Boulding sold 2,813 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.29, for a total transaction of $194,912.77.
• On Friday, January 9th, Mark Elliott Boulding sold 2,314 shares of PTC Therapeutics stock. The shares were sold at an average price of $77.93, for a total transaction of $180,330.02.
• On Thursday, January 8th, Mark Elliott Boulding sold 4,033 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.56, for a total transaction of $308,766.48.

PTC Therapeutics Stock Up 2.4%

NASDAQ:PTCT traded up $1.68 during midday trading on Wednesday, reaching $71.26. The stock had a trading volume of 907,063 shares, compared to its average volume of 1,217,560. The firm has a fifty day simple moving average of $68.80 and a two-hundred day simple moving average of $71.24. PTC Therapeutics, Inc. has a 12-month low of $35.95 and a 12-month high of $87.50. The stock has a market cap of $5.90 billion, a P/E ratio of 9.21 and a beta of 0.55.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The firm had revenue of $164.68 million during the quarter, compared to analysts’ expectations of $281.45 million. During the same quarter last year, the business earned ($0.85) earnings per share. The business’s quarterly revenue was down 22.7% on a year-over-year basis. On average, sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PTCT shares. Wells Fargo & Company lowered their price objective on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Royal Bank Of Canada lowered their price objective on shares of PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Friday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Truist Financial upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Jefferies Financial Group lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $91.00 to $76.00 in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, PTC Therapeutics has an average rating of “Moderate Buy” and an average price target of $82.71.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC acquired a new position in shares of PTC Therapeutics during the 1st quarter worth $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of PTC Therapeutics by 11.5% during 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 worth $9,109,000 after buying an additional 18,504 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of PTC Therapeutics by 280.1% during the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 1,826 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of PTC Therapeutics during the 2nd quarter worth $1,661,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PTC Therapeutics by 247.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 814 shares during the last quarter.

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.