PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells $69,959.62 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,543 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 value of $69,959.62. Following the completion of the transaction, the vice president now owns 108,846 shares of the company’s stock, valued at $4,935,077.64. This trade represents a 1.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Mark Elliott Boulding also recently made the following trade(s):

• On Monday, December 2nd, Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $43.94 on Friday. The company’s fifty day moving average price is $45.19 and its 200 day moving average price is $38.44. The stock has a market capitalization of $3.39 billion, a P/E ratio of -7.40 and a beta of 0.62. PTC Therapeutics, Inc. has a 1 year low of $23.58 and a 1 year high of $54.16.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. boosted its holdings in PTC Therapeutics by 945.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after buying an additional 643,960 shares during the last quarter. Armistice Capital LLC boosted its stake in shares of PTC Therapeutics by 2.9% in the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after acquiring an additional 198,227 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new stake in shares of PTC Therapeutics in the third quarter worth approximately $7,234,000. Ensign Peak Advisors Inc raised its stake in PTC Therapeutics by 650.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company’s stock valued at $6,370,000 after purchasing an additional 180,561 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in PTC Therapeutics by 123.2% in the 2nd quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company’s stock valued at $9,712,000 after purchasing an additional 175,289 shares in the last quarter.

Analyst Ratings Changes

PTCT has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Cantor Fitzgerald restated an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Barclays increased their price objective on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Robert W. Baird boosted 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. Finally, UBS Group increased their price target on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.08.

About PTC Therapeutics

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.