Key Points
- PTC Therapeutics VP Mark Elliott Boulding sold 3,540 shares on May 8 at an average price of $78.97, totaling about $279,554. The sale was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 105,212 shares.
- PTC Therapeutics beat quarterly expectations by reporting EPS of -$0.03 versus the expected -$0.45 and revenue of $272.55 million versus $217.42 million estimated. Revenue rose 43.5% year over year, even though the company remained unprofitable.
- Analysts remain bullish on PTCT, with several firms raising or reiterating positive ratings and price targets; the consensus view is Moderate Buy with an average target of $88.36.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 3,540 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $78.97, for a total transaction of $279,553.80. Following the transaction, the vice president directly owned 105,212 shares of the company's stock, valued at approximately $8,308,591.64. This represents a 3.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Monday, April 6th, Mark Elliott Boulding sold 2,265 shares of PTC Therapeutics stock. The shares were 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 shares were 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.
- On Tuesday, February 17th, Mark Elliott Boulding sold 2,813 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.29, for a total transaction of $194,912.77.
PTC Therapeutics Price Performance
PTCT stock opened at $75.02 on Wednesday. PTC Therapeutics, Inc. has a one year low of $43.17 and a one year high of $87.50. The stock has a market cap of $6.22 billion, a PE ratio of -32.20 and a beta of 0.53. The firm has a 50 day simple moving average of $68.12 and a two-hundred day simple moving average of $72.24.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping 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 business had revenue of $272.55 million during the quarter, compared to analysts' expectations of $217.42 million. During the same quarter in the previous year, the company earned $10.04 EPS. The business's quarterly revenue was up 43.5% compared to the same quarter last year. On average, research analysts expect that PTC Therapeutics, Inc. will post -1.02 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have commented on PTCT shares. Morgan Stanley reissued an "overweight" rating and issued a $94.00 price target on shares of PTC Therapeutics in a research note on Friday. Barclays reissued an "overweight" rating and issued a $120.00 price target on shares of PTC Therapeutics in a research note on Monday, February 23rd. Raymond James Financial started coverage on shares of PTC Therapeutics in a research note on Friday, April 10th. They issued an "outperform" rating and a $108.00 price target for the company. Wells Fargo & Company boosted their price target 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, TD Cowen raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their price target for the stock from $75.00 to $90.00 in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.36.
Read Our Latest Stock Report on PTC Therapeutics
Institutional Trading of PTC Therapeutics
Several institutional investors have recently added to or reduced their stakes in PTCT. Jefferies Financial Group Inc. purchased a new stake in PTC Therapeutics during the third quarter valued at about $97,252,000. Janus Henderson Group PLC boosted its position in PTC Therapeutics by 28.6% during the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company's stock valued at $368,587,000 after buying an additional 1,077,776 shares during the period. State Street Corp boosted its position in PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company's stock valued at $319,497,000 after buying an additional 1,071,343 shares during the period. Toronto Dominion Bank boosted its position in PTC Therapeutics by 27.5% during the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company's stock valued at $314,339,000 after buying an additional 891,690 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in 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 valued at $62,945,000 after buying an additional 808,515 shares during the period.
About PTC Therapeutics
(
Get Free Report)
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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