PTC Therapeutics (NASDAQ:PTCT) VP Sells $104,881.14 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Boulding sold 1,638 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $64.03, for a total value of $104,881.14. Following the completion of the sale, the vice president owned 105,272 shares of the company’s stock, valued at $6,740,566.16. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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 value 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 Up 3.4%

PTC Therapeutics stock opened at $64.70 on Friday. The company has a 50 day moving average of $68.37 and a 200-day moving average of $71.92. PTC Therapeutics, Inc. has a twelve month low of $61.23 and a twelve month high of $90.87. The stock has a market capitalization of $5.40 billion, a PE ratio of -111.55, a price-to-earnings-growth ratio of 1.93 and a beta of 0.49.

PTC Therapeutics (NASDAQ:PTCT) last issued 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 analyst estimates of $298.63 million. The company’s revenue was up 101.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.83) earnings per share. Equities analysts anticipate that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PTCT shares. Weiss Ratings upgraded PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. Leerink Partners began coverage on PTC Therapeutics in a research report on Monday, September 14th. They set an “outperform” rating and a $98.00 price target for the company. Royal Bank Of Canada cut their price objective on shares of PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Morgan Stanley increased their target price on shares of PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Cantor Fitzgerald lifted their price target on shares of PTC Therapeutics from $130.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.25.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Castleark Management LLC acquired a new position in shares of PTC Therapeutics during the 4th quarter worth about $7,357,000. Rock Springs Capital Management LP lifted its position in shares of PTC Therapeutics by 161.5% in the first quarter. Rock Springs Capital Management LP now owns 161,798 shares of the biopharmaceutical company’s stock valued at $11,023,000 after buying an additional 99,919 shares during the last quarter. Parkman Healthcare Partners LLC bought a new position in shares of PTC Therapeutics during the 2nd quarter worth approximately $35,539,000. Janus Henderson Group PLC increased its holdings in shares of 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 acquiring an additional 2,342,101 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in PTC Therapeutics by 23.5% in the 1st quarter. California State Teachers Retirement System now owns 84,320 shares of the biopharmaceutical company’s stock valued at $5,745,000 after acquiring an additional 16,027 shares during the period.

PTC Therapeutics Company Profile

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.