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

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

PTC Therapeutics Trading Down 2.4 %

Shares of NASDAQ:PTCT opened at $43.94 on Friday. PTC Therapeutics, Inc. has a 1-year low of $23.58 and a 1-year high of $54.16. The stock has a market cap of $3.39 billion, a PE ratio of -7.40 and a beta of 0.62. The stock’s fifty day simple moving average is $45.19 and its two-hundred day simple moving average is $38.47.

Analyst Ratings Changes

Several research firms have recently weighed in on PTCT. Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $45.00 to $67.00 in a report on Friday, December 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Citigroup boosted their target price on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price target on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Hold” and an average price target of $54.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTCT. KBC Group NV lifted its position in shares of PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares in the last quarter. CWM LLC lifted its holdings in PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position 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 purchasing an additional 492 shares during the last quarter. Quest Partners LLC bought a new position in PTC Therapeutics in the 2nd quarter valued at $128,000. Finally, Quarry LP increased its position in shares of PTC Therapeutics by 100.0% during the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 2,500 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.