PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 192 Shares of Company Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Boulding sold 192 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $64.26, for a total value of $12,337.92. Following the completion of the sale, the vice president directly owned 105,272 shares in the company, valued at approximately $6,764,778.72. The trade was a 0.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $104,881.14.
• On Tuesday, October 6th, Mark Boulding sold 435 shares of PTC Therapeutics stock. The shares were sold at an average price of $64.16, for a total value of $27,909.60.
• 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 Price Performance

PTCT stock traded down $3.00 during midday trading on Tuesday, reaching $59.92. 1,051,412 shares of the company’s stock traded hands, compared to its average volume of 1,369,818. PTC Therapeutics, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $90.87. The business has a 50-day moving average price of $68.26 and a two-hundred day moving average price of $71.95. The company has a market capitalization of $5.00 billion, a P/E ratio of -103.31, a PEG ratio of 1.95 and a beta of 0.49.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million during the quarter, compared to analysts’ expectations of $298.63 million. During the same period in the previous year, the company earned ($0.83) EPS. PTC Therapeutics’s quarterly revenue was up 101.5% on a year-over-year basis. As a group, research analysts forecast that PTC Therapeutics, Inc. will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of PTC Therapeutics during the second quarter worth approximately $1,139,089,000. Jupiter Topco LLC acquired a new stake in shares of PTC Therapeutics in the 2nd quarter valued at about $590,182,000. Janus Henderson Group PLC raised its stake in shares of 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. Wellington Management Group LLP raised its stake in shares of PTC Therapeutics by 4.7% in the 2nd quarter. Wellington Management Group LLP now owns 4,128,273 shares of the biopharmaceutical company’s stock valued at $336,743,000 after purchasing an additional 185,663 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of PTC Therapeutics by 31.8% during the first quarter. Bank of America Corp DE now owns 1,886,841 shares of the biopharmaceutical company’s stock worth $128,550,000 after purchasing an additional 455,284 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms recently weighed in on PTCT. Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Research lowered 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 shares of PTC Therapeutics in a research report on Monday, September 14th. They issued an “outperform” rating and a $98.00 price objective for the company. Weiss Ratings raised shares of PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their target price on PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.25.

About PTC Therapeutics

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.