PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Sells $270,000.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Stephanie Okey sold 5,000 shares of the stock in a transaction dated 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 directly owns 8,867 shares in the company, 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 can be accessed through this link.

PTC Therapeutics Trading Down 3.0 %

Shares of PTC Therapeutics stock opened at $55.47 on Wednesday. The firm has a market capitalization of $4.37 billion, a PE ratio of -9.34 and a beta of 0.66. The business’s 50-day moving average price is $49.05 and its 200-day moving average price is $43.92. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $58.38.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of PTCT. Toronto Dominion Bank bought a new position in PTC Therapeutics during the 4th quarter worth approximately $148,363,000. Driehaus Capital Management LLC bought a new position in PTC Therapeutics during the 4th quarter worth approximately $46,993,000. Point72 Asset Management L.P. grew its position 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 acquiring an additional 867,502 shares during the last quarter. Janus Henderson Group PLC grew its position 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 acquiring an additional 455,698 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position 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 acquiring an additional 381,319 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PTCT. Cantor Fitzgerald increased their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America upgraded PTC Therapeutics from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. Wells Fargo & Company upped their target price on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Barclays upped their target price on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada upped their target price on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.