Key Points
- PTC Therapeutics VP Mark Elliott Boulding sold 2,813 shares at an average price of $72.57, totaling $204,139.41. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 2.6% to 105,272 shares.
- PTCT reported quarterly earnings of $0.92 per share, beating estimates of $0.24, while revenue rose 101.5% year over year to $360.52 million.
- Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $98.55, compared with the stock’s recent price near $73.67.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 2,813 shares of PTC Therapeutics stock in a transaction on Monday, August 17th. The shares were sold at an average price of $72.57, for a total value of $204,139.41. Following the transaction, the vice president owned 105,272 shares in the company, valued at $7,639,589.04. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Monday, July 6th, Mark Elliott Boulding sold 5,079 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.08, for a total transaction of $432,121.32.
- 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.
PTC Therapeutics Stock Up 1.4%
PTCT stock opened at $73.67 on Thursday. PTC Therapeutics, Inc. has a twelve month low of $48.09 and a twelve month high of $90.87. The firm's fifty day simple moving average is $77.81 and its two-hundred day simple moving average is $72.41. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of -127.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.56.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.68. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The firm had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. During the same period in the prior year, the business posted ($0.83) earnings per share. The company's revenue for the quarter was up 101.5% on a year-over-year basis. As a group, equities research analysts expect that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Empowered Funds LLC acquired a new position in PTC Therapeutics in the first quarter valued at approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 purchasing an additional 18,504 shares during the period. Quantbot Technologies LP increased 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 valued at $121,000 after purchasing an additional 1,826 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of PTC Therapeutics during the 2nd quarter valued at approximately $1,661,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock valued at $56,000 after purchasing an additional 814 shares during the period.
Analyst Ratings Changes
PTCT has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on PTC Therapeutics from $106.00 to $109.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Royal Bank Of Canada lifted their target price on PTC Therapeutics from $82.00 to $85.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 7th. Citigroup upgraded shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. Wall Street Zen raised shares of PTC Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Finally, Zacks Research downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, PTC Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $98.55.
Read Our Latest Research Report on PTCT
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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