Christine Marie Utter Sells 1,291 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 1,291 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 $58,533.94. Following the completion of the sale, the chief accounting officer now directly owns 65,983 shares of the company’s stock, valued at $2,991,669.22. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Christine Marie Utter also recently made the following trade(s):

• On Monday, December 2nd, Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock. The stock was sold at an average price of $51.77, for a total value of $921,506.00.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $43.94 on Friday. PTC Therapeutics, Inc. has a 52 week low of $23.58 and a 52 week high of $54.16. The firm’s 50-day simple moving average is $45.19 and its two-hundred day simple moving average is $38.47. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of -7.40 and a beta of 0.62.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PTCT shares. Raymond James started coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They issued a “market perform” rating on the stock. Robert W. Baird raised their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. The Goldman Sachs Group raised their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Finally, Barclays upped their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $54.08.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors have recently bought and sold shares of PTCT. Choreo LLC increased its position in PTC Therapeutics by 4.1% in the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock worth $356,000 after buying an additional 452 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 492 shares during the last quarter. KBC Group NV increased its holdings in PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 504 shares during the last quarter. Arizona State Retirement System raised its stake in PTC Therapeutics by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock valued at $590,000 after acquiring an additional 636 shares during the period. Finally, Creative Planning lifted its holdings in PTC Therapeutics by 8.1% during the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 816 shares during the last quarter.

PTC Therapeutics Company Profile

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.