Key Points
- PTC Therapeutics CAO Christine Marie Utter sold 19,686 shares on June 17 at an average price of $75.56, totaling about $1.49 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Utter still owned 70,199 shares valued at roughly $5.3 million, representing a 21.9% decrease in her stake.
- PTC Therapeutics recently beat earnings expectations, reporting EPS of -$0.03 versus -$0.45 expected and revenue of $272.55 million, while analysts currently have a Moderate Buy consensus with a $91.36 price target.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 10,462 shares of PTC Therapeutics stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $78.65, for a total value of $822,836.30. Following the completion of the transaction, the vice president owned 105,272 shares of the company's stock, valued at approximately $8,279,642.80. This trade represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 15th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The stock was sold at an average price of $72.18, for a total value of $202,970.16.
- On Friday, May 8th, Mark Elliott Boulding sold 3,540 shares of PTC Therapeutics stock. The stock was 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.
PTC Therapeutics Stock Up 2.5%
Shares of PTCT opened at $80.96 on Tuesday. The business's 50-day moving average price is $71.57 and its 200-day moving average price is $71.89. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50. The stock has a market cap of $6.72 billion, a PE ratio of -34.75, a P/E/G ratio of 3.63 and a beta of 0.55.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (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 firm had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same period in the prior year, the firm posted $10.04 earnings per share. The company's revenue for the quarter was up 43.5% on a year-over-year basis. Analysts expect that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.
Analysts Set New Price Targets
PTCT has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price 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. TD Cowen upgraded shares of PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their price target for the company from $75.00 to $90.00 in a research report on Friday, May 8th. Barclays reaffirmed an "overweight" rating and issued a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. Citigroup upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Finally, Raymond James Financial started coverage on PTC Therapeutics in a research note on Friday, April 10th. They set an "outperform" rating and a $108.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.36.
View Our Latest Stock Analysis on PTC Therapeutics
Hedge Funds Weigh In On PTC Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of PTC Therapeutics by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company's stock valued at $668,691,000 after purchasing an additional 514,204 shares during the last quarter. Janus Henderson Group PLC lifted its position in PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company's stock worth $489,997,000 after buying an additional 2,342,101 shares during the last quarter. Wellington Management Group LLP lifted its position in PTC Therapeutics by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company's stock worth $301,856,000 after buying an additional 224,481 shares during the last quarter. State Street Corp grew 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 acquiring an additional 1,071,343 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of PTC Therapeutics by 27.5% during the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company's stock worth $314,339,000 after acquiring an additional 891,690 shares in the last quarter.
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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