PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 2,266 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,266 shares of PTC Therapeutics stock in a transaction on Monday, October 6th. The stock was sold at an average price of $65.07, for a total transaction of $147,448.62. Following the completion of the transaction, the vice president directly owned 103,901 shares in the company, valued at $6,760,838.07. This represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, October 3rd, Mark Elliott Boulding sold 22,655 shares of PTC Therapeutics stock. The stock was sold at an average price of $65.82, for a total transaction of $1,491,152.10.
• 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.
• On Friday, September 12th, Mark Elliott Boulding sold 24,585 shares of PTC Therapeutics stock. The shares were sold at an average price of $61.34, for a total transaction of $1,508,043.90.

PTC Therapeutics Price Performance

Shares of PTCT opened at $63.90 on Wednesday. The firm has a market capitalization of $5.08 billion, a PE ratio of 9.17 and a beta of 0.55. PTC Therapeutics, Inc. has a 1-year low of $35.14 and a 1-year high of $67.40. The company’s fifty day moving average price is $54.90 and its 200-day moving average price is $50.34.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PTCT. UBS Group boosted 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. Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Friday, August 8th. Citigroup boosted their price objective on shares of PTC Therapeutics from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Morgan Stanley decreased their target price on shares of PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Finally, Barclays boosted their target price on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTCT. Quantbot Technologies LP raised its position in shares of PTC Therapeutics by 545.5% in the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc. raised its position in shares of PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC raised its position in shares of PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 441 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of PTC Therapeutics by 247.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock worth $56,000 after acquiring an additional 814 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PTC Therapeutics in the first quarter worth about $61,000.

PTC Therapeutics Company Profile

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.