Key Points
- PTC Therapeutics VP Mark Boulding sold 192 shares for approximately $12,338 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 0.18% to 105,272 shares.
- PTCT shares opened at $59.92, near their one-year low of $59.82. The company’s latest quarterly results exceeded expectations, with $0.92 EPS versus a $0.24 consensus and revenue up 101.5% year over year.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $98.25, although recent targets range from $75 to $109.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Boulding sold 192 shares of the business's stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $64.26, for a total value of $12,337.92. Following the completion of the transaction, the vice president directly owned 105,272 shares in the company, valued at approximately $6,764,778.72. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 Monday, October 5th, Mark Boulding sold 1,638 shares of PTC Therapeutics stock. The stock was sold at an average price of $64.03, for a total value of $104,881.14.
- On Tuesday, October 6th, Mark Boulding sold 435 shares of PTC Therapeutics stock. The shares were sold at an average price of $64.16, for a total transaction of $27,909.60.
- 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 transaction of $204,139.41.
PTC Therapeutics Trading Down 4.8%
PTC Therapeutics stock opened at $59.92 on Wednesday. PTC Therapeutics, Inc. has a 1 year low of $59.82 and a 1 year high of $90.87. The firm's 50 day moving average price is $68.08 and its 200-day moving average price is $71.90.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million during the quarter, compared to analysts' expectations of $298.63 million. During the same period last year, the firm posted ($0.83) EPS. PTC Therapeutics's quarterly revenue was up 101.5% compared to the same quarter last year. On average, equities analysts forecast that PTC Therapeutics, Inc. will post 1.19 EPS for the current year.
Institutional Trading of PTC Therapeutics
Several hedge funds have recently modified their holdings of the company. Allworth Financial LP purchased a new position in shares of PTC Therapeutics in the 2nd quarter worth $67,000. EverSource Wealth Advisors LLC increased its holdings in shares of PTC Therapeutics by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company's stock worth $71,000 after buying an additional 151 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of PTC Therapeutics during the 2nd quarter valued at about $81,000. Quantbot Technologies LP purchased a new stake in shares of PTC Therapeutics during the 2nd quarter valued at about $112,000. Finally, GAMMA Investing LLC raised its position in shares of PTC Therapeutics by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company's stock valued at $119,000 after buying an additional 534 shares in the last quarter.
Analysts Set New Price Targets
Several brokerages have commented on PTCT. Leerink Partners began coverage on shares of PTC Therapeutics in a research note on Monday, September 14th. They issued an "outperform" rating and a $98.00 price target on the stock. Weiss Ratings raised shares of PTC Therapeutics from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. Royal Bank Of Canada cut their price objective on PTC Therapeutics from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Wednesday, October 7th. Wells Fargo & Company raised their price objective on PTC Therapeutics from $106.00 to $109.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Finally, Zacks Research cut PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $98.25.
Read Our Latest Stock Analysis on PTCT
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.
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