Mark Elliott Boulding Sells 24,585 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 24,585 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $61.34, for a total transaction of $1,508,043.90. Following the sale, the vice president directly owned 103,901 shares of the company’s stock, valued at approximately $6,373,287.34. This represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mark Elliott Boulding also recently made the following trade(s):

• On Thursday, September 11th, Mark Elliott Boulding sold 22,664 shares of PTC Therapeutics stock. The stock was sold at an average price of $61.00, for a total transaction of $1,382,504.00.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $59.69 on Wednesday. PTC Therapeutics, Inc. has a one year low of $33.88 and a one year high of $62.18. The business has a fifty day moving average price of $50.73 and a 200-day moving average price of $49.57. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 8.56 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.24. The company had revenue of $178.88 million for the quarter, compared to the consensus estimate of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.PTC Therapeutics’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PTCT. Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Friday, August 8th. Morgan Stanley cut their target price on PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Robert W. Baird set a $70.00 target price on PTC Therapeutics in a research note on Friday, August 8th. Truist Financial upped their price target on PTC Therapeutics from $80.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, UBS Group increased their price objective on shares of PTC Therapeutics from $71.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Institutional Trading of PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PTC Therapeutics by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company’s stock valued at $2,967,000 after buying an additional 205 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in PTC Therapeutics by 3.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company’s stock valued at $388,000 after acquiring an additional 231 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in PTC Therapeutics by 42.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 295 shares during the last quarter. Xponance Inc. lifted its stake in PTC Therapeutics by 5.2% in the 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 314 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of PTC Therapeutics by 2.0% during the 1st quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company’s stock worth $874,000 after purchasing an additional 329 shares during the last quarter.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.