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

Key Points

• PTC Therapeutics VP Mark Boulding sold 435 shares for $27,909.60 at an average price of $64.16 under a pre-arranged Rule 10b5-1 plan. He retained 105,272 shares, and the sale reduced his position by 0.41%.
• PTCT shares fell 0.7% to $63.23, near the lower end of their $61.23–$90.87 one-year range. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.92 EPS and $360.52 million in revenue.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $99.08, while major institutional investors including BlackRock and Jupiter Topco established sizable positions.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Boulding sold 435 shares of PTC Therapeutics stock in a transaction on 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 transaction, the vice president owned 105,272 shares of the company's stock, valued at approximately $6,754,251.52. The trade was a 0.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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, 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 shares were sold at an average price of $72.57, for a total value of $204,139.41.

PTC Therapeutics Trading Down 0.7%

Shares of PTC Therapeutics stock traded down $0.47 during trading on Wednesday, reaching $63.23. The company's stock had a trading volume of 1,040,492 shares, compared to its average volume of 1,376,507. The stock has a 50-day moving average price of $68.92 and a two-hundred day moving average price of $72.02. The stock has a market capitalization of $5.28 billion, a P/E ratio of -109.02, a price-to-earnings-growth ratio of 1.96 and a beta of 0.49. PTC Therapeutics, Inc. has a one year low of $61.23 and a one year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.68. The company 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 prior year, the company earned ($0.83) EPS. As a group, sell-side analysts anticipate that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of PTC Therapeutics from $93.00 to $104.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Royal Bank Of Canada restated a "sector perform" rating on shares of PTC Therapeutics in a research report on Wednesday. Citigroup raised PTC Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. Zacks Research cut PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Finally, Leerink Partners began coverage on PTC Therapeutics in a research report on Monday, September 14th. They set an "outperform" rating and a $98.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $99.08.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors have recently modified their holdings of PTCT. BlackRock Inc. bought a new stake in shares of PTC Therapeutics during the second quarter worth approximately $1,139,089,000. Jupiter Topco LLC bought a new position in PTC Therapeutics in the second quarter valued at approximately $590,182,000. Janus Henderson Group PLC boosted its stake in PTC Therapeutics by 48.3% in the first 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 last quarter. Wellington Management Group LLP grew its holdings in PTC Therapeutics by 4.7% during the 2nd quarter. Wellington Management Group LLP now owns 4,128,273 shares of the biopharmaceutical company's stock worth $336,743,000 after acquiring an additional 185,663 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in PTC Therapeutics during the 2nd quarter worth $140,520,000.

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.

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