PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 2,813 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,813 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $72.57, for a total value of $204,139.41. Following the sale, the vice president owned 105,272 shares of the company’s stock, valued at $7,639,589.04. This trade represents a 2.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Monday, July 6th, Mark Elliott Boulding sold 5,079 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.08, for a total transaction of $432,121.32.
• On Wednesday, June 17th, Mark Elliott Boulding sold 10,462 shares of PTC Therapeutics stock. The stock was sold at an average price of $78.65, for a total value of $822,836.30.

PTC Therapeutics Trading Up 1.4%

NASDAQ:PTCT opened at $73.67 on Thursday. The firm’s 50 day moving average is $77.81 and its 200 day moving average is $72.41. PTC Therapeutics, Inc. has a 12 month low of $48.09 and a 12 month high of $90.87. The stock has a market capitalization of $6.15 billion, a PE ratio of -127.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.68. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The firm had revenue of $360.52 million during the quarter, compared to the consensus estimate of $298.63 million. During the same quarter last year, the company earned ($0.83) earnings per share. The company’s revenue was up 101.5% on a year-over-year basis. Research analysts predict that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PTCT. UMB Bank n.a. purchased a new stake in PTC Therapeutics in the fourth quarter worth about $26,000. Comerica Bank boosted its position in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of PTC Therapeutics in the 4th quarter worth approximately $41,000. Allworth Financial LP grew its stake in shares of PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares during the last quarter. Finally, First Horizon Corp bought a new position in PTC Therapeutics during the 4th quarter valued at approximately $53,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PTCT shares. Weiss Ratings downgraded PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. Barclays boosted their price objective on shares of PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Morgan Stanley lifted their target price on shares of PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Cantor Fitzgerald upped their price target on shares of PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.55.

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.