Stephanie Okey Sells 5,000 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Stephanie Okey sold 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the sale, the director now owns 8,867 shares of the company’s stock, valued at $478,818. This trade represents a 36.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $55.47 on Wednesday. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $58.38. The business’s fifty day moving average price is $49.05 and its 200-day moving average price is $43.92. The stock has a market capitalization of $4.37 billion, a PE ratio of -9.34 and a beta of 0.66.

Analyst Upgrades and Downgrades

PTCT has been the subject of several recent research reports. Robert W. Baird upped their price target on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company upped their price target on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Bank of America raised PTC Therapeutics from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. Scotiabank assumed coverage on PTC Therapeutics in a research report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price objective on the stock. Finally, Royal Bank of Canada boosted their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PTCT. Toronto Dominion Bank purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at $148,363,000. Driehaus Capital Management LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at $46,993,000. Point72 Asset Management L.P. lifted its holdings in PTC Therapeutics by 150.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock worth $65,153,000 after purchasing an additional 867,502 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in PTC Therapeutics by 24.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after purchasing an additional 455,698 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in PTC Therapeutics by 107.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock worth $33,241,000 after purchasing an additional 381,319 shares in 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.