PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 3,540 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 3,540 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $78.97, for a total transaction of $279,553.80. Following the sale, the vice president owned 105,212 shares in the company, valued at $8,308,591.64. This represents a 3.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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, April 6th, Mark Elliott Boulding sold 2,265 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.45, for a total transaction of $157,304.25.
• 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 shares were sold at an average price of $69.29, for a total transaction of $194,912.77.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $75.02 on Wednesday. The company has a market cap of $6.22 billion, a price-to-earnings ratio of -32.20 and a beta of 0.53. The firm has a 50 day simple moving average of $68.12 and a 200 day simple moving average of $72.24. PTC Therapeutics, Inc. has a one year low of $43.17 and a one year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.42. The business had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm’s revenue was up 43.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.04 EPS. As a group, analysts expect that PTC Therapeutics, Inc. will post -1.02 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PTCT. Jefferies Financial Group Inc. bought a new position in shares of PTC Therapeutics during the third quarter valued at about $97,252,000. Janus Henderson Group PLC raised its position in shares of PTC Therapeutics by 28.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock valued at $368,587,000 after purchasing an additional 1,077,776 shares during the period. State Street Corp raised its position in shares of PTC Therapeutics by 34.2% in the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after purchasing an additional 1,071,343 shares during the period. Toronto Dominion Bank raised its position in shares of PTC Therapeutics by 27.5% in the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after purchasing an additional 891,690 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of PTC Therapeutics by 4,013.1% in the fourth quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock valued at $62,945,000 after purchasing an additional 808,515 shares during the period.

Analyst Ratings Changes

PTCT has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $75.00 to $90.00 in a research note on Friday. Jefferies Financial Group downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $91.00 to $76.00 in a research note on Monday, March 30th. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Barclays restated an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $88.36.

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.