PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden Sells 810 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 810 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $36,725.40. Following the transaction, the executive vice president now directly owns 79,849 shares in the company, valued at $3,620,353.66. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

PTC Therapeutics Trading Down 2.4 %

Shares of PTCT stock traded down $1.10 during mid-day trading on Friday, reaching $43.94. The stock had a trading volume of 548,622 shares, compared to its average volume of 529,154. The company has a market cap of $3.39 billion, a P/E ratio of -7.40 and a beta of 0.62. PTC Therapeutics, Inc. has a 12-month low of $23.58 and a 12-month high of $54.16. The business has a 50-day simple moving average of $45.12 and a 200 day simple moving average of $38.39.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PTCT. Barclays lifted their target price on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group boosted their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Citigroup raised their price objective on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Robert W. Baird raised their price target on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.08.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of PTC Therapeutics by 6.7% in the second quarter. Rhumbline Advisers now owns 116,396 shares of the biopharmaceutical company’s stock valued at $3,559,000 after purchasing an additional 7,314 shares in the last quarter. Arizona State Retirement System raised its position in shares of PTC Therapeutics by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after purchasing an additional 636 shares during the last quarter. Quest Partners LLC purchased a new stake in PTC Therapeutics in the 2nd quarter valued at approximately $128,000. Choreo LLC grew its holdings in PTC Therapeutics by 4.1% during the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock valued at $356,000 after buying an additional 452 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in PTC Therapeutics by 83.2% during the second quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock worth $202,000 after buying an additional 3,002 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.