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Mark Elliott Boulding, Executive Vice President and Chief Legal Officer at PTC (NASDAQ:PTC) Therapeutics (NASDAQ:PTCT), recently sold shares of the company’s common stock. The transaction comes as the stock trades near its 52-week high of $54.16, having delivered an impressive 94% return over the past year. According to a filing with the Securities and Exchange Commission, Boulding executed two transactions on February 19 and February 20, 2025, selling a total of 2,947 shares. The transactions were carried out at prices ranging from $50.096 to $50.124 per share, amounting to a total value of $147,678.
Following these sales, Boulding holds 103,901 shares of PTC Therapeutics. The transactions were part of an automatic sale to cover tax obligations related to the vesting of restricted stock units (RSUs) granted in February 2024.
In other recent news, PTC Therapeutics reported an impressive unaudited total revenue of approximately $814 million for 2024, surpassing its initial revenue guidance. The company’s financial performance was significantly bolstered by its Duchenne Muscular Dystrophy franchise, with strong sales from Translarna™ and Emflaza®. Additionally, PTC Therapeutics submitted four regulatory approval applications to the FDA in 2024, including for its gene therapy Kebilidi™, which received FDA approval in November. The company also announced a substantial license and collaboration agreement with Novartis (SIX:NOVN) for the PTC518 program, securing $1.0 billion in upfront proceeds, with potential for up to $1.9 billion in additional milestones.
In terms of stock analysis, TD Cowen raised its price target for PTC Therapeutics to $60, maintaining a Buy rating, following the acceptance of the New Drug Application for vatiquinone aimed at treating Friedreich’s ataxia. Similarly, Cantor Fitzgerald increased its price target to $113, citing the company’s strong financial position and potential commercial success of its drug sepiapterin. Meanwhile, Cowen adjusted its price target to $50, maintaining a Hold rating, reflecting their updated financial model. These developments highlight the analysts’ varying levels of confidence in PTC Therapeutics’ future performance and potential market impact.
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