Mark Elliott Boulding Sells 1,929 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,929 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $46.18, for a total transaction of $89,081.22. Following the transaction, the vice president now owns 103,901 shares of the company’s stock, valued at approximately $4,798,148.18. This represents a 1.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, May 16th, Mark Elliott Boulding sold 883 shares of PTC Therapeutics stock. The stock was sold at an average price of $46.02, for a total value of $40,635.66.
• On Wednesday, March 12th, Mark Elliott Boulding sold 15,521 shares of PTC Therapeutics stock. The shares were sold at an average price of $53.30, for a total transaction of $827,269.30.
• On Wednesday, February 19th, Mark Elliott Boulding sold 1,333 shares of PTC Therapeutics stock. The shares were sold at an average price of $50.10, for a total transaction of $66,783.30.

PTC Therapeutics Stock Up 2.1%

NASDAQ:PTCT traded up $0.95 during midday trading on Monday, hitting $46.96. The stock had a trading volume of 798,144 shares, compared to its average volume of 870,518. The stock has a 50-day moving average of $48.22 and a 200 day moving average of $47.24. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -7.91 and a beta of 0.52. PTC Therapeutics, Inc. has a one year low of $28.72 and a one year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $9.19. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. PTC Therapeutics’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.20) EPS. On average, sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Scotiabank began coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 target price on the stock. Robert W. Baird cut their target price on PTC Therapeutics from $70.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Cantor Fitzgerald decreased their price target on PTC Therapeutics from $113.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their price objective on shares of PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PTC Therapeutics has an average rating of “Moderate Buy” and an average price target of $61.92.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of PTC Therapeutics by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company’s stock valued at $2,967,000 after purchasing an additional 205 shares in the last quarter. Arizona State Retirement System boosted its position in PTC Therapeutics by 1.1% during the 4th quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company’s stock valued at $907,000 after acquiring an additional 219 shares in the last quarter. Choreo LLC increased its holdings in shares of PTC Therapeutics by 2.0% in the 4th quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock valued at $541,000 after acquiring an additional 240 shares during the period. Summit Investment Advisors Inc. raised its position in shares of PTC Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 253 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 270 shares during the last quarter.

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.