Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Sells $36,725.40 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCTGet Free Report) EVP Lee Scott Golden sold 810 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $36,725.40. Following the completion of the transaction, the executive vice president now directly owns 79,849 shares of the company’s stock, valued at $3,620,353.66. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $43.94 on Monday. PTC Therapeutics, Inc. has a 1-year low of $23.58 and a 1-year high of $54.16. The firm’s 50-day simple moving average is $45.19 and its 200-day simple moving average is $38.49. The firm has a market cap of $3.39 billion, a P/E ratio of -7.40 and a beta of 0.62.

Wall Street Analyst Weigh In

Several analysts have weighed in on PTCT shares. StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. UBS Group increased their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada raised PTC Therapeutics from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Raymond James initiated coverage on PTC Therapeutics in a research report on Thursday, October 10th. They set a “market perform” rating for the company. Finally, The Goldman Sachs Group upped their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $54.08.

Get Our Latest Analysis on PTCT

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after purchasing an additional 47,902 shares during the period. Two Sigma Advisers LP increased its holdings in PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after purchasing an additional 40,300 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of PTC Therapeutics in the third quarter worth $698,000. Quest Partners LLC boosted its stake in PTC Therapeutics by 433.9% during the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 18,171 shares during the last quarter. Finally, State Street Corp grew its holdings in PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after acquiring an additional 149,700 shares in the last quarter.

About PTC Therapeutics

(Get Free Report)

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.

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Insider Buying and Selling by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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