Mark Elliott Boulding Sells 2,812 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,812 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $72.18, for a total value of $202,970.16. Following the completion of the transaction, the vice president directly owned 105,212 shares of the company’s stock, valued at $7,594,202.16. This represents a 2.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 8th, Mark Elliott Boulding sold 3,540 shares of PTC Therapeutics stock. The shares were sold at an average price of $78.97, for a total value of $279,553.80.
• On Monday, April 6th, Mark Elliott Boulding sold 2,265 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.45, for a total value of $157,304.25.
• On Thursday, February 19th, Mark Elliott Boulding sold 3,019 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.48, for a total value of $209,760.12.
• On Wednesday, February 18th, Mark Elliott Boulding sold 3,081 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.36, for a total value of $213,698.16.

PTC Therapeutics Stock Up 1.0%

PTCT stock opened at $71.02 on Thursday. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50. The firm has a market cap of $5.89 billion, a PE ratio of -30.48, a price-to-earnings-growth ratio of 13.11 and a beta of 0.53. The business has a 50 day moving average of $68.91 and a 200 day moving average of $72.42.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The company had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. During the same quarter last year, the company earned $10.04 EPS. The firm’s revenue for the quarter was up 43.5% on a year-over-year basis. On average, research analysts expect that PTC Therapeutics, Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Bank of America reduced their price objective on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Wall Street Zen lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Jefferies Financial Group lowered PTC Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $91.00 to $76.00 in a research report on Monday, March 30th. Raymond James Financial initiated coverage on PTC Therapeutics in a research note on Friday, April 10th. They set an “outperform” rating and a $108.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Institutional Trading of PTC Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. purchased a new stake in PTC Therapeutics during the 4th quarter valued at $26,000. Smartleaf Asset Management LLC boosted its stake in PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 236 shares during the last quarter. Optiver Holding B.V. boosted its stake in PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 249 shares during the last quarter. Comerica Bank boosted its stake in PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 469 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in PTC Therapeutics during the 4th quarter valued at $41,000.

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.