PTC Therapeutics (NASDAQ:PTCT) VP Sells $27,909.60 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Boulding sold 435 shares of PTC Therapeutics stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $64.16, for a total transaction of $27,909.60. Following the completion of the sale, the vice president owned 105,272 shares in the company, valued at approximately $6,754,251.52. This trade represents a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 Trading Up 3.4%

PTCT stock opened at $64.70 on Friday. PTC Therapeutics, Inc. has a 12-month low of $61.23 and a 12-month high of $90.87. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of -111.55, a PEG ratio of 1.93 and a beta of 0.49. The business’s 50-day moving average is $68.37 and its 200 day moving average is $71.92.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics’s revenue was up 101.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.83) EPS. As a group, equities analysts forecast that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of PTCT. Castleark Management LLC acquired a new position in PTC Therapeutics in the fourth quarter valued at about $7,357,000. Rock Springs Capital Management LP increased its position in shares of PTC Therapeutics by 161.5% during the first quarter. Rock Springs Capital Management LP now owns 161,798 shares of the biopharmaceutical company’s stock valued at $11,023,000 after acquiring an additional 99,919 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new stake in shares of PTC Therapeutics during the second quarter valued at about $35,539,000. Janus Henderson Group PLC raised its stake in shares of PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after acquiring an additional 2,342,101 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of PTC Therapeutics by 23.5% in the 1st quarter. California State Teachers Retirement System now owns 84,320 shares of the biopharmaceutical company’s stock valued at $5,745,000 after acquiring an additional 16,027 shares during the period.

Wall Street Analysts Forecast Growth

PTCT has been the subject of a number of research reports. Cantor Fitzgerald upped their target price on shares of PTC Therapeutics from $130.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, September 22nd. Royal Bank Of Canada lowered their price target on shares of PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Barclays upped their price objective on shares of PTC Therapeutics from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Wells Fargo & Company raised their target price on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Finally, Leerink Partners began coverage on PTC Therapeutics in a report on Monday, September 14th. They set an “outperform” rating and a $98.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.25.

About PTC Therapeutics

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.