PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 192 Shares of Company Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Boulding sold 192 shares of the stock in a transaction on Friday, October 9th. The stock was sold at an average price of $64.26, for a total value of $12,337.92. Following the completion of the transaction, the vice president owned 105,272 shares of the company’s stock, valued at $6,764,778.72. The trade was a 0.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction of $104,881.14.
• On Tuesday, October 6th, Mark Boulding sold 435 shares of PTC Therapeutics stock. The stock was sold at an average price of $64.16, for a total transaction of $27,909.60.
• 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 transaction of $204,139.41.

PTC Therapeutics Stock Down 4.8%

Shares of NASDAQ PTCT traded down $3.00 during midday trading on Tuesday, hitting $59.92. The company had a trading volume of 1,051,412 shares, compared to its average volume of 1,369,818. PTC Therapeutics, Inc. has a twelve month low of $59.82 and a twelve month high of $90.87. The business has a 50-day simple moving average of $68.26 and a two-hundred day simple moving average of $71.95. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of -103.31, a price-to-earnings-growth ratio of 1.95 and a beta of 0.49.

PTC Therapeutics (NASDAQ:PTCT) last released 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 analysts’ expectations of $298.63 million. During the same period in the prior year, the firm posted ($0.83) EPS. The firm’s quarterly revenue was up 101.5% on a year-over-year basis. On average, equities analysts forecast that PTC Therapeutics, Inc. will post 1.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PTCT. Royal Bank Of Canada lowered their price target on PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 7th. Wells Fargo & Company lifted their price objective on PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Wall Street Zen cut PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley boosted their target price on PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Zacks Research downgraded PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.25.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in PTC Therapeutics in the 2nd quarter valued at $67,000. Harbor Investment Advisory LLC acquired a new stake in shares of PTC Therapeutics during the second quarter worth $81,000. EverSource Wealth Advisors LLC boosted its holdings in shares of PTC Therapeutics by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 151 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of PTC Therapeutics during the second quarter worth $112,000. Finally, GAMMA Investing LLC boosted its holdings in shares of PTC Therapeutics by 58.1% during the second quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 534 shares during the last quarter.

About PTC Therapeutics

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.