Key Points
- PTC Therapeutics VP Mark Boulding sold 1,638 shares for approximately $104,881 at an average price of $64.03 under a pre-arranged Rule 10b5-1 plan. He retained 105,272 shares, worth about $6.74 million.
- PTCT shares opened at $63.23, near their 12-month low of $61.23 and below their 50-day and 200-day moving averages. The company has a market capitalization of approximately $5.28 billion.
- PTC Therapeutics reported quarterly earnings of $0.92 per share and revenue of $360.52 million, exceeding analyst estimates, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $99.08.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Boulding sold 435 shares of PTC Therapeutics stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $64.16, for a total transaction of $27,909.60. Following the sale, the vice president directly owned 105,272 shares of the company's stock, valued at $6,754,251.52. This represents a 0.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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, October 5th, Mark Boulding sold 1,638 shares of PTC Therapeutics stock. The shares were sold at an average price of $64.03, for a total transaction of $104,881.14.
- On Monday, August 17th, Mark Boulding sold 2,813 shares of PTC Therapeutics stock. The shares were sold at an average price of $72.57, for a total value of $204,139.41.
PTC Therapeutics Stock Down 0.7%
NASDAQ:PTCT opened at $63.23 on Thursday. PTC Therapeutics, Inc. has a 12-month low of $61.23 and a 12-month high of $90.87. The stock's fifty day simple moving average is $68.69 and its 200-day simple moving average is $71.99. The firm has a market capitalization of $5.28 billion, a P/E ratio of -109.02, a P/E/G ratio of 1.97 and a beta of 0.49.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.68. The company had revenue of $360.52 million during the quarter, compared to the consensus estimate of $298.63 million. During the same quarter in the prior year, the company posted ($0.83) EPS. The company's revenue for the quarter was up 101.5% compared to the same quarter last year. As a group, equities research analysts expect that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Cantor Fitzgerald upped their price target on PTC Therapeutics from $130.00 to $137.00 and gave the company an "overweight" rating in a research note on Tuesday, September 22nd. Royal Bank Of Canada reissued a "sector perform" rating on shares of PTC Therapeutics in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of PTC Therapeutics from $93.00 to $104.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Weiss Ratings downgraded shares of PTC Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, September 17th. Finally, Leerink Partners initiated coverage on shares of PTC Therapeutics in a report on Monday, September 14th. They issued an "outperform" rating and a $98.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, PTC Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $99.08.
Get Our Latest Report on PTC Therapeutics
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Castleark Management LLC acquired a new position in shares of PTC Therapeutics during the fourth quarter worth about $7,357,000. Rock Springs Capital Management LP grew its holdings in shares of PTC Therapeutics by 161.5% during the first quarter. Rock Springs Capital Management LP now owns 161,798 shares of the biopharmaceutical company's stock worth $11,023,000 after buying an additional 99,919 shares in the last quarter. Parkman Healthcare Partners LLC acquired a new stake in PTC Therapeutics in the 2nd quarter valued at approximately $35,539,000. Janus Henderson Group PLC raised 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 valued at $489,997,000 after buying an additional 2,342,101 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in PTC Therapeutics by 23.5% in the 1st quarter. California State Teachers Retirement System now owns 84,320 shares of the biopharmaceutical company's stock valued at $5,745,000 after acquiring an additional 16,027 shares in the last quarter.
About PTC Therapeutics
(
Get Free Report)
PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.
The company's commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.
Further Reading
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