PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 5,079 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $85.08, for a total transaction of $432,121.32. Following the transaction, the vice president directly owned 105,272 shares of the company's stock, valued at approximately $8,956,541.76. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Elliott Boulding also recently made the following trade(s):
- On Wednesday, June 17th, Mark Elliott Boulding sold 10,462 shares of PTC Therapeutics stock. The shares were sold at an average price of $78.65, for a total value of $822,836.30.
- On Friday, May 15th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The shares were 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 shares were sold at an average price of $78.97, for a total value of $279,553.80.
PTC Therapeutics Stock Performance
PTC Therapeutics stock opened at $88.57 on Thursday. The stock has a fifty day moving average of $74.77 and a two-hundred day moving average of $72.61. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of -38.01, a PEG ratio of 4.10 and a beta of 0.53. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $89.85.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued 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. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business 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 business earned $10.04 earnings per share. The business's revenue was up 43.5% on a year-over-year basis. On average, analysts forecast that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.
Hedge Funds Weigh In On PTC Therapeutics
Several large investors have recently added to or reduced their stakes in PTCT. Empowered Funds LLC purchased a new stake in PTC Therapeutics in the 1st quarter valued at about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of PTC Therapeutics by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company's stock worth $9,109,000 after acquiring an additional 18,504 shares during the period. Quantbot Technologies LP lifted its holdings in shares of PTC Therapeutics by 280.1% during the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company's stock worth $121,000 after acquiring an additional 1,826 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of PTC Therapeutics in the second quarter worth approximately $1,661,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of PTC Therapeutics by 247.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock worth $56,000 after acquiring an additional 814 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Truist Financial upgraded shares of PTC Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. Raymond James Financial initiated coverage on shares of PTC Therapeutics in a report on Friday, April 10th. They set an "outperform" rating and a $108.00 price target for the company. Morgan Stanley reissued an "overweight" rating and issued a $94.00 price objective on shares of PTC Therapeutics in a research report on Friday, May 8th. TD Cowen raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating and upped their price objective for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Finally, Weiss Ratings lowered shares of PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $91.57.
Check Out Our Latest Analysis on PTC Therapeutics
PTC Therapeutics Company Profile
(
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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