Insider Selling: PTC Therapeutics (NASDAQ:PTCT) VP Sells 3,375 Shares of Stock

Key Points

• Mark Elliott Boulding, VP of PTC Therapeutics, sold 3,375 shares at an average price of $63.43, decreasing his position by 3.15% and retaining 103,901 shares valued at approximately $6.59 million.
• PTC Therapeutics reported a quarterly loss of ($0.83) EPS, beating estimates, and generated $178.88 million in revenue, surpassing analysts' expectations.
• Several research firms have downgraded their price targets for PTC Therapeutics, with Morgan Stanley lowering its target from $76.00 to $71.00 while maintaining an "overweight" rating.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 3,375 shares of the firm's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $63.43, for a total value of $214,076.25. Following the sale, the vice president owned 103,901 shares in the company, valued at $6,590,440.43. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mark Elliott Boulding also recently made the following trade(s):

• On Friday, October 3rd, Mark Elliott Boulding sold 22,655 shares of PTC Therapeutics stock. The shares were sold at an average price of $65.82, for a total value of $1,491,152.10.
• On Monday, October 6th, Mark Elliott Boulding sold 2,266 shares of PTC Therapeutics stock. The stock was sold at an average price of $65.07, for a total value of $147,448.62.
• On Thursday, September 11th, Mark Elliott Boulding sold 22,664 shares of PTC Therapeutics stock. The stock was sold at an average price of $61.00, for a total value of $1,382,504.00.
• On Friday, September 12th, Mark Elliott Boulding sold 24,585 shares of PTC Therapeutics stock. The stock was sold at an average price of $61.34, for a total value of $1,508,043.90.

PTC Therapeutics Stock Performance

Shares of PTCT traded up $1.53 during mid-day trading on Thursday, reaching $66.01. 994,317 shares of the company's stock traded hands, compared to its average volume of 1,117,164. PTC Therapeutics, Inc. has a 12 month low of $35.51 and a 12 month high of $67.40. The stock has a market capitalization of $5.24 billion, a P/E ratio of 9.47 and a beta of 0.55. The business's 50-day moving average price is $55.45 and its 200-day moving average price is $50.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The company had revenue of $178.88 million for the quarter, compared to analysts' expectations of $173.01 million. During the same quarter in the prior year, the company earned ($1.29) earnings per share. The firm's revenue was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley cut their price objective on shares of PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Bank of America dropped their price target on shares of PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Weiss Ratings reissued a "hold (c-)" rating on shares of PTC Therapeutics in a research report on Wednesday. Citigroup raised their price objective on shares of PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, UBS Group raised their price objective on shares of PTC Therapeutics from $71.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PTC Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Institutional Trading of PTC Therapeutics

A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of PTC Therapeutics during the 1st quarter worth about $595,000. Allspring Global Investments Holdings LLC acquired a new position in shares of PTC Therapeutics during the 1st quarter worth about $524,000. Sector Gamma AS increased its stake in shares of PTC Therapeutics by 41.4% during the 1st quarter. Sector Gamma AS now owns 92,250 shares of the biopharmaceutical company's stock worth $4,701,000 after purchasing an additional 27,000 shares during the last quarter. Deutsche Bank AG increased its stake in shares of PTC Therapeutics by 262.1% during the 1st quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company's stock worth $17,414,000 after purchasing an additional 247,346 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of PTC Therapeutics during the 1st quarter worth about $641,000.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.

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