Mark Elliott Boulding Sells 10,462 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 10,462 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $78.65, for a total value of $822,836.30. Following the completion of the transaction, the vice president directly owned 105,272 shares in the company, valued at $8,279,642.80. This trade represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 15th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The shares were sold at an average price of $72.18, for a total value of $202,970.16.
• On Friday, May 8th, Mark Elliott Boulding sold 3,540 shares of PTC Therapeutics stock. The stock was 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.

PTC Therapeutics Price Performance

NASDAQ PTCT traded up $1.98 during trading hours on Monday, hitting $80.96. The company’s stock had a trading volume of 2,399,709 shares, compared to its average volume of 1,353,855. PTC Therapeutics, Inc. has a 12 month low of $43.17 and a 12 month high of $87.50. The company’s 50 day simple moving average is $71.37 and its two-hundred day simple moving average is $71.88. The company has a market cap of $6.72 billion, a P/E ratio of -34.75, a price-to-earnings-growth ratio of 3.63 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same quarter last year, the firm posted $10.04 EPS. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. As a group, research analysts predict that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on PTCT shares. Weiss Ratings downgraded shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. Raymond James Financial assumed coverage on PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price objective on the stock. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $108.00 in a research report on Tuesday, June 9th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $94.00 price objective on shares of PTC Therapeutics in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.36.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Thrivent Financial for Lutherans bought a new stake in PTC Therapeutics in the fourth quarter worth $4,191,000. Teachers Retirement System of The State of Kentucky lifted its position in PTC Therapeutics by 86.9% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock valued at $3,103,000 after purchasing an additional 19,000 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of PTC Therapeutics in the 3rd quarter worth $97,252,000. Ritholtz Wealth Management purchased a new position in shares of PTC Therapeutics in the 4th quarter worth $1,863,000. Finally, Comerica Bank increased its holdings in shares of PTC Therapeutics by 3,231.9% in the 4th quarter. Comerica Bank now owns 17,426 shares of the biopharmaceutical company’s stock worth $1,324,000 after buying an additional 16,903 shares during the last quarter.

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.