PTC Therapeutics (NASDAQ:PTCT) VP Sells $1,491,152.10 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 22,655 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $65.82, for a total value of $1,491,152.10. Following the sale, the vice president directly owned 103,901 shares of the company’s stock, valued at $6,838,763.82. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, October 7th, Mark Elliott Boulding sold 3,375 shares of PTC Therapeutics stock. The shares were sold at an average price of $63.43, for a total value of $214,076.25.
• On Monday, October 6th, Mark Elliott Boulding sold 2,266 shares of PTC Therapeutics stock. The shares were sold at an average price of $65.07, for a total value of $147,448.62.
• On Thursday, September 11th, Mark Elliott Boulding sold 22,664 shares of PTC Therapeutics stock. The shares were sold at an average price of $61.00, for a total value 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 value of $1,508,043.90.

PTC Therapeutics Trading Up 2.4%

Shares of PTCT opened at $66.01 on Friday. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 9.47 and a beta of 0.55. The stock has a 50 day moving average of $55.45 and a 200 day moving average of $50.50. PTC Therapeutics, Inc. has a 12 month low of $35.51 and a 12 month high of $67.40.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.24. The company had revenue of $178.88 million during 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 revenue was down 4.2% on a year-over-year basis. During the same period last year, the business posted ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on PTCT shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $63.00 target price (up from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. Bank of America decreased their target price on PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Wells Fargo & Company decreased their target price on PTC Therapeutics from $79.00 to $73.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of PTC Therapeutics in a research report on Wednesday. Finally, Truist Financial raised their target price on PTC Therapeutics from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Hedge Funds Weigh In On PTC Therapeutics

A number of large investors have recently made changes to their positions in the stock. Voya Investment Management LLC boosted its holdings in shares of PTC Therapeutics by 9.4% in the third quarter. Voya Investment Management LLC now owns 284,891 shares of the biopharmaceutical company’s stock worth $17,484,000 after acquiring an additional 24,399 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of PTC Therapeutics by 1,603.8% in the second quarter. Squarepoint Ops LLC now owns 181,978 shares of the biopharmaceutical company’s stock worth $8,888,000 after acquiring an additional 171,297 shares during the period. Headlands Technologies LLC bought a new stake in PTC Therapeutics during the second quarter valued at $453,000. CANADA LIFE ASSURANCE Co boosted its stake in PTC Therapeutics by 8.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 21,793 shares of the biopharmaceutical company’s stock valued at $1,065,000 after buying an additional 1,755 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in PTC Therapeutics by 331.5% during the second quarter. Tower Research Capital LLC TRC now owns 7,309 shares of the biopharmaceutical company’s stock valued at $357,000 after buying an additional 5,615 shares during the period.

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.