PTC Therapeutics (NASDAQ:PTCT) Stock: Insider Mark Elliott Boulding Sells 435 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Boulding sold 435 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $64.16, for a total value of $27,909.60. Following the completion of the sale, the vice president owned 105,272 shares of the company’s stock, valued at $6,754,251.52. This represents a 0.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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, 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 value of $104,881.14.
• On Monday, August 17th, Mark Boulding sold 2,813 shares of PTC Therapeutics stock. The stock was sold at an average price of $72.57, for a total value of $204,139.41.

PTC Therapeutics Trading Down 0.7%

Shares of PTCT stock traded down $0.47 on Wednesday, reaching $63.23. The company had a trading volume of 1,040,492 shares, compared to its average volume of 1,376,507. The stock has a market cap of $5.28 billion, a PE ratio of -109.02, a PEG ratio of 1.96 and a beta of 0.49. The company has a 50-day moving average of $68.92 and a 200-day moving average of $72.02. PTC Therapeutics, Inc. has a 12 month low of $61.23 and a 12 month high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data 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. The firm had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. The firm’s revenue was up 101.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.83) EPS. Sell-side analysts anticipate that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PTCT. Leerink Partners started coverage on PTC Therapeutics in a research note on Monday, September 14th. They set an “outperform” rating and a $98.00 price objective on the stock. Wells Fargo & Company boosted their target price on PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Morgan Stanley increased their price target on PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Wall Street Zen raised PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 19th. Finally, Weiss Ratings cut PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued 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 a consensus price target of $99.08.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Capital Advisors Inc. bought a new position in PTC Therapeutics during the 3rd quarter worth about $458,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of PTC Therapeutics by 1.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 13,730 shares of the biopharmaceutical company’s stock valued at $1,120,000 after purchasing an additional 237 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of PTC Therapeutics during the second quarter worth about $211,000. Integrated Wealth Concepts LLC acquired a new position in shares of PTC Therapeutics during the second quarter worth about $193,000. Finally, Baird Financial Group Inc. bought a new position in shares of PTC Therapeutics during the second quarter worth about $219,000.

PTC Therapeutics Company Profile

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.