PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 2,812 Shares

Key Points

• PTC Therapeutics VP Mark Elliott Boulding sold 2,812 shares on May 15 at an average price of $72.18, totaling about $202,970. The sale was made under a pre-arranged Rule 10b5-1 plan, and he still owns 105,212 shares.
• The stock was slightly higher in trading, up 0.2% to $70.31 on lighter-than-average volume. PTC Therapeutics has a market cap of $5.83 billion and has traded between $43.17 and $87.50 over the past 12 months.
• Recent earnings beat expectations: the company reported a smaller-than-expected loss of $0.03 per share versus estimates for a $0.45 loss, while revenue rose 43.5% year over year to $272.55 million. Analysts currently rate the stock a Moderate Buy on average, with a target price of $88.36.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $72.18, for a total transaction of $202,970.16. Following the completion of the sale, the vice president owned 105,212 shares of the company's stock, valued at $7,594,202.16. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Friday, May 8th, Mark Elliott Boulding sold 3,540 shares of PTC Therapeutics stock. The stock was sold at an average price of $78.97, for a total transaction of $279,553.80.
• 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 shares were sold at an average price of $69.36, for a total transaction of $213,698.16.

PTC Therapeutics Stock Up 0.2%

PTC Therapeutics stock traded up $0.16 during mid-day trading on Tuesday, reaching $70.31. 725,216 shares of the company's stock traded hands, compared to its average volume of 1,261,384. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -30.18, a PEG ratio of 13.33 and a beta of 0.53. The stock has a 50 day moving average of $68.71 and a two-hundred day moving average of $72.38. 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 released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same quarter in the prior year, the firm earned $10.04 earnings per share. PTC Therapeutics's revenue was up 43.5% on a year-over-year basis. As a group, sell-side analysts forecast that PTC Therapeutics, Inc. will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on PTCT shares. Bank of America lowered their price objective on shares of PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating for the company in a research note on Friday, February 20th. Royal Bank Of Canada upped their price objective on shares of PTC Therapeutics from $81.00 to $82.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Wells Fargo & Company upped their price objective 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, Weiss Ratings lowered shares of PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.36.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC grew its position in PTC Therapeutics by 48.3% during the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company's stock worth $489,997,000 after purchasing an additional 2,342,101 shares during the period. Jefferies Financial Group Inc. acquired a new stake in PTC Therapeutics during the 3rd quarter worth about $97,252,000. State Street Corp grew its stake in shares of PTC Therapeutics by 34.2% during the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company's stock worth $319,497,000 after purchasing an additional 1,071,343 shares during the period. Toronto Dominion Bank grew its stake in shares of 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 purchasing an additional 891,690 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of PTC Therapeutics by 4,013.1% during the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company's stock worth $62,945,000 after purchasing an additional 808,515 shares during the period.

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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