Insider Selling: PTC Therapeutics (NASDAQ:PTCT) VP Sells 4,879 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 4,879 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $77.44, for a total value of $377,829.76. Following the completion of the sale, the vice president owned 117,659 shares in the company, valued at $9,111,512.96. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, January 6th, Mark Elliott Boulding sold 1,739 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.95, for a total transaction of $133,816.05.
• On Monday, January 5th, Mark Elliott Boulding sold 2,266 shares of PTC Therapeutics stock. The stock was sold at an average price of $75.55, for a total value of $171,196.30.
• On Monday, November 17th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The stock was sold at an average price of $75.99, for a total value of $213,683.88.

PTC Therapeutics Stock Down 0.5%

Shares of PTCT stock traded down $0.39 during trading hours on Thursday, hitting $76.85. 1,625,361 shares of the company were exchanged, compared to its average volume of 1,684,365. The firm has a fifty day moving average of $76.26 and a 200 day moving average of $62.43. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50. The firm has a market cap of $6.17 billion, a PE ratio of 8.98 and a beta of 0.49.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. The firm had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $177.42 million. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.39) earnings per share. Analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Institutional Trading of PTC Therapeutics

Several hedge funds have recently made changes to their positions in PTCT. Smartleaf Asset Management LLC boosted its position in PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 236 shares during the period. Optiver Holding B.V. increased its position in PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 249 shares during the period. Comerica Bank lifted its stake in PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares during the last quarter. IFP Advisors Inc lifted its stake in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 310 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of PTC Therapeutics by 42.1% during the second quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 295 shares during the period.

Analysts Set New Price Targets

A number of brokerages have commented on PTCT. TD Cowen boosted their price objective on shares of PTC Therapeutics from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. Barclays lifted their target price on PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Morgan Stanley restated an “overweight” rating and set a $90.00 price objective on shares of PTC Therapeutics in a research note on Thursday. Finally, Citigroup lifted their price objective on PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.27.

PTC Therapeutics News Summary

Here are the key news stories impacting PTC Therapeutics this week:

• Positive Sentiment: Recent fundamentals still supportive — PTC reported an earnings and revenue beat in its last quarter (Nov.) and maintains strong margins relative to peers, which underpins the stock’s valuation and analyst interest. MarketBeat PTCT profile
• Neutral Sentiment: Small inducement grant: the company approved 300 restricted stock units for a new non?executive employee on Jan. 2 — immaterial dilution and likely not a major near?term driver. PR Newswire: Inducement Grants
• Neutral Sentiment: Analyst consensus is a “Hold” with a mixed set of price targets and ratings — this produces limited conviction among buy?side actors and can temper short?term moves. Analyst consensus report
• Negative Sentiment: Heavy insider selling disclosed in multiple Form 4s — several executives and directors (including the CEO, CFO, EVP, VPs and others) sold several tens of thousands of shares across Jan. 6–7 at ~\$77 per share, representing millions of dollars of proceeds. Collective insider sales at this scale can put near?term downward pressure on the stock and signal to some investors that insiders are taking gains. The filings and aggregated alert are here for review. InsiderTrades: Jan. insider sales alert

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.