PTC Therapeutics (NASDAQ:PTCT) VP Sells $432,121.32 in Stock

Key Points

• PTC Therapeutics VP Mark Elliott Boulding sold 5,079 shares on July 6 for about $432,121 at an average price of $85.08, leaving him with 105,272 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• The insider has been selling shares repeatedly in recent months, including a larger sale of 10,462 shares on June 17 and additional sales in May. Together, these transactions show a notable reduction in his stake over time.
• PTC Therapeutics reported better-than-expected quarterly results, with EPS of -$0.03 versus estimates of -$0.45 and revenue of $272.55 million, up 43.5% year over year. Analysts currently rate the stock a Moderate Buy with a consensus target price of $91.57.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 5,079 shares of the company's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $85.08, for a total transaction of $432,121.32. Following the completion of the sale, the vice president directly owned 105,272 shares in the company, valued at approximately $8,956,541.76. The trade was a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 Wednesday, June 17th, Mark Elliott Boulding sold 10,462 shares of PTC Therapeutics stock. The stock was sold at an average price of $78.65, for a total transaction of $822,836.30.
• On Friday, May 15th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The shares were sold at an average price of $72.18, for a total transaction of $202,970.16.
• On Friday, May 8th, Mark Elliott Boulding sold 3,540 shares of PTC Therapeutics stock. The shares were sold at an average price of $78.97, for a total transaction of $279,553.80.

PTC Therapeutics Stock Performance

PTC Therapeutics stock traded down $0.63 during trading hours on Wednesday, hitting $88.57. 1,322,369 shares of the stock were exchanged, compared to its average volume of 1,493,301. The stock has a market capitalization of $7.35 billion, a P/E ratio of -38.01, a P/E/G ratio of 3.93 and a beta of 0.53. PTC Therapeutics, Inc. has a 12 month low of $43.17 and a 12 month high of $89.85. The business's 50-day moving average is $74.39 and its two-hundred day moving average is $72.51.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its 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. The company had revenue of $272.55 million during the quarter, compared to analysts' expectations of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. PTC Therapeutics's quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.04 earnings per share. On average, equities analysts predict that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Raymond James Financial began coverage on PTC Therapeutics in a research report on Friday, April 10th. They issued an "outperform" rating and a $108.00 price objective for the company. Morgan Stanley restated an "overweight" rating and issued a $94.00 target price on shares of PTC Therapeutics in a research note on Friday, May 8th. Royal Bank Of Canada lifted their price target on PTC Therapeutics from $82.00 to $85.00 and gave the company a "sector perform" rating in a report on Tuesday. Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, Citigroup raised shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.57.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors have recently modified their holdings of the business. UMB Bank n.a. bought a new stake in shares of PTC Therapeutics during the fourth quarter worth approximately $26,000. Comerica Bank grew its holdings in PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 469 shares during the period. Salomon & Ludwin LLC acquired a new stake in PTC Therapeutics during the 4th quarter worth $41,000. IFP Advisors Inc raised its position in shares of PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 310 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock valued at $48,000 after purchasing an additional 247 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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