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

Key Points

• PTC Therapeutics VP Mark Elliott Boulding sold 3,540 shares on May 8 at an average price of $78.97, for proceeds of about $279,554. The sale was part of a pre-arranged Rule 10b5-1 trading plan, and he still held 105,212 shares afterward.
• The company beat first-quarter expectations, reporting EPS of -$0.03 versus the -$0.45 consensus and revenue of $272.55 million versus $217.42 million expected. Revenue rose 43.5% year over year.
• Analyst sentiment remains broadly positive despite some mixed rating changes, with a consensus "Moderate Buy" and an average price target of $88.36. The stock traded down 2.4% to $75.02 in Tuesday trading.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 3,540 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $78.97, for a total value of $279,553.80. Following the completion of the transaction, the vice president owned 105,212 shares of the company's stock, valued at $8,308,591.64. This trade represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value 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 shares were 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 stock was sold at an average price of $69.29, for a total value of $194,912.77.

PTC Therapeutics Trading Down 2.4%

Shares of NASDAQ PTCT traded down $1.83 during trading on Tuesday, reaching $75.02. 2,212,245 shares of the company traded hands, compared to its average volume of 1,284,417. The stock has a market cap of $6.22 billion, a P/E ratio of -32.20 and a beta of 0.53. The firm's fifty day simple moving average is $67.98 and its 200 day simple moving average is $72.18. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.42. The firm had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.PTC Therapeutics's revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period last year, the company earned $10.04 earnings per share. As a group, research analysts expect that PTC Therapeutics, Inc. will post -1.09 EPS for the current year.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. purchased a new position in shares of PTC Therapeutics in the 3rd quarter valued at about $97,252,000. Janus Henderson Group PLC lifted its position in shares of PTC Therapeutics by 28.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company's stock worth $368,587,000 after buying an additional 1,077,776 shares during the last quarter. State Street Corp grew its position in shares of PTC Therapeutics by 34.2% in the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company's stock valued at $319,497,000 after buying an additional 1,071,343 shares during the last quarter. Toronto Dominion Bank raised its stake in PTC Therapeutics by 27.5% during the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company's stock worth $314,339,000 after acquiring an additional 891,690 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in 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 acquiring an additional 808,515 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PTCT. Bank of America cut their price target on shares of PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating for the company in a report on Friday, February 20th. Barclays reiterated an "overweight" rating and set a $120.00 price objective on shares of PTC Therapeutics in a research note on Monday, February 23rd. Wall Street Zen cut PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $94.00 target price on shares of PTC Therapeutics in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $88.36.

PTC Therapeutics Company Profile

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.

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