Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Sells 795 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 795 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $39,829.50. Following the sale, the executive vice president now directly owns 77,856 shares of the company’s stock, valued at approximately $3,900,585.60. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lee Scott Golden also recently made the following trade(s):

• On Tuesday, January 7th, Lee Scott Golden sold 810 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total transaction of $36,725.40.

PTC Therapeutics Trading Up 0.6 %

PTCT stock opened at $50.69 on Monday. The company’s 50 day moving average is $46.67 and its 200 day moving average is $41.62. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $54.16.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PTCT. Robert W. Baird increased their target price 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. Cantor Fitzgerald upped their price target on PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada boosted their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Barclays increased their target price on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.85.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors have recently made changes to their positions in the stock. CWM LLC raised its position in PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,096 shares in the last quarter. Creative Planning increased its position in shares of PTC Therapeutics by 8.1% during the 3rd 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. Assenagon Asset Management S.A. raised its holdings in shares of PTC Therapeutics by 32.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock valued at $18,270,000 after buying an additional 119,637 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 492 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in PTC Therapeutics by 64.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,795 shares of the biopharmaceutical company’s stock valued at $549,000 after acquiring an additional 5,783 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.