PTC Therapeutics (NASDAQ:PTCT) VP Sells $12,337.92 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Boulding sold 192 shares of the stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $64.26, for a total transaction of $12,337.92. Following the sale, the vice president directly owned 105,272 shares of the company’s stock, valued at $6,764,778.72. This represents a 0.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $64.16, for a total transaction 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 transaction of $204,139.41.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $60.99 on Friday. The firm’s fifty day moving average is $67.69 and its 200-day moving average is $71.82. PTC Therapeutics, Inc. has a 52 week low of $58.80 and a 52 week high of $90.87. The firm has a market cap of $5.09 billion, a P/E ratio of -105.16, a P/E/G ratio of 1.80 and a beta of 0.49.

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

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently bought and sold shares of the stock. Avior Wealth Management LLC raised its holdings in shares of PTC Therapeutics by 48.7% during the third quarter. Avior Wealth Management LLC now owns 5,622 shares of the biopharmaceutical company’s stock valued at $364,000 after purchasing an additional 1,842 shares during the period. Sacks & Associates LLC acquired a new stake in shares of PTC Therapeutics in the 3rd quarter valued at about $251,000. Private Capital Advisors Inc. acquired a new stake in shares of PTC Therapeutics in the 3rd quarter valued at about $458,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of PTC Therapeutics by 1.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,730 shares of the biopharmaceutical company’s stock valued at $1,120,000 after buying an additional 237 shares during the period. Finally, Tidal Investments LLC acquired a new stake in shares of PTC Therapeutics in the 2nd quarter valued at about $211,000.

Analyst Ratings Changes

Several research firms have recently weighed in on PTCT. UBS Group reissued a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of PTC Therapeutics in a research report on Thursday. Wells Fargo & Company upped their target price on PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Morgan Stanley upped their target price on PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Zacks Research cut PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Finally, Barclays lifted their target price on PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.62.

PTC Therapeutics Company Profile

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.