PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 2,265 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,265 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $69.45, for a total transaction of $157,304.25. Following the completion of the transaction, the vice president owned 105,212 shares of the company’s stock, valued at $7,306,973.40. This trade represents a 2.11% decrease in their ownership of the stock. The sale 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 Thursday, February 19th, Mark Elliott Boulding sold 3,019 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.48, for a total transaction of $209,760.12.
• On Wednesday, February 18th, Mark Elliott Boulding sold 3,081 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total transaction of $213,698.16.
• On Tuesday, February 17th, Mark Elliott Boulding sold 2,813 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.29, for a total transaction of $194,912.77.
• On Friday, January 9th, Mark Elliott Boulding sold 2,314 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.93, for a total transaction of $180,330.02.
• On Thursday, January 8th, Mark Elliott Boulding sold 4,033 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.56, for a total transaction of $308,766.48.

PTC Therapeutics Stock Up 2.4%

NASDAQ PTCT opened at $71.26 on Thursday. The company has a 50-day simple moving average of $68.71 and a two-hundred day simple moving average of $71.24. PTC Therapeutics, Inc. has a 12-month low of $35.95 and a 12-month high of $87.50. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 9.21 and a beta of 0.55.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The business had revenue of $164.68 million for the quarter, compared to analysts’ expectations of $281.45 million. During the same quarter in the previous year, the company earned ($0.85) earnings per share. The business’s quarterly revenue was down 22.7% on a year-over-year basis. Equities analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PTCT. Wall Street Zen lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Morgan Stanley upped their price target on shares of PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Bank of America cut their price target on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Jefferies Financial Group lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the company from $91.00 to $76.00 in a research report on Monday, March 30th. Finally, Truist Financial upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.71.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Flax Pond Capital LLC bought a new position in shares of PTC Therapeutics during the fourth quarter valued at about $456,000. Mcguire Capital Advisors Inc. bought a new position in shares of PTC Therapeutics during the fourth quarter valued at about $397,000. Invesco Ltd. raised its stake in shares of PTC Therapeutics by 38.7% during the fourth quarter. Invesco Ltd. now owns 434,285 shares of the biopharmaceutical company’s stock valued at $32,988,000 after acquiring an additional 121,228 shares during the last quarter. Summit Global Investments bought a new position in shares of PTC Therapeutics during the fourth quarter valued at about $242,000. Finally, State of Tennessee Department of Treasury bought a new position in shares of PTC Therapeutics during the fourth quarter valued at about $2,465,000.

About PTC Therapeutics

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.