Key Points
- PTC Therapeutics VP Mark Elliott Boulding sold 2,812 shares on May 15 at an average price of $72.18, totaling about $203,000. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still holds 105,212 shares.
- The company beat quarterly expectations in its latest earnings report, posting a smaller-than-expected loss of $0.03 per share versus the estimated $0.45 loss. Revenue came in at $272.6 million, up 43.5% year over year.
- Analysts remain broadly bullish on PTCT, with a consensus rating of “Moderate Buy” and an average price target of $88.36. Several firms recently raised targets or upgraded the stock, including TD Cowen and Wells Fargo.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 2,812 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $72.18, for a total value of $202,970.16. Following the completion of the transaction, the vice president directly owned 105,212 shares in the company, valued at approximately $7,594,202.16. This trade represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 value of $279,553.80.
- 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 value 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 value 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 value of $213,698.16.
PTC Therapeutics Trading Up 0.2%
PTCT stock opened at $70.31 on Wednesday. The company has a market capitalization of $5.83 billion, a PE ratio of -30.18, a P/E/G ratio of 13.08 and a beta of 0.53. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50. The business's fifty day moving average price is $68.86 and its 200 day moving average price is $72.40.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.42. The firm had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The company's quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.04 EPS. Research analysts predict that PTC Therapeutics, Inc. will post 0.19 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on PTCT. Raymond James Financial began coverage on PTC Therapeutics in a report on Friday, April 10th. They issued an "outperform" rating and a $108.00 price objective on the stock. Bank of America cut their price objective on PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating on the stock in a report on Friday, February 20th. TD Cowen upgraded PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their price objective for the company from $75.00 to $90.00 in a report on Friday, May 8th. Royal Bank Of Canada boosted their price objective on PTC Therapeutics from $81.00 to $82.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. Finally, Wells Fargo & Company boosted their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.36.
View Our Latest Analysis on PTC Therapeutics
Institutional Investors Weigh In On PTC Therapeutics
Large investors have recently bought and sold shares of the stock. UMB Bank n.a. purchased a new stake in PTC Therapeutics during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC increased its holdings in PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 236 shares during the period. Optiver Holding B.V. boosted its position in shares of PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 249 shares in the last quarter. Comerica Bank boosted its position in shares of 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 in the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in shares of PTC Therapeutics during the 4th quarter worth about $41,000.
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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