Insider Selling: 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 company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the transaction, the director now owns 8,867 shares in the company, valued at $478,818. This represents a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

PTC Therapeutics Trading Up 2.7 %

NASDAQ:PTCT opened at $56.98 on Thursday. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $58.92. The firm has a market cap of $4.49 billion, a PE ratio of -9.59 and a beta of 0.66. The stock has a fifty day moving average price of $49.29 and a 200 day moving average price of $44.01.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup lifted their target price on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Scotiabank began coverage on shares of PTC Therapeutics in a research report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 target price on the stock. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Robert W. Baird boosted their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Cantor Fitzgerald increased their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its stake in shares of PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 270 shares during the period. Sterling Capital Management LLC increased its position in shares of PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 522 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of PTC Therapeutics in the 4th quarter valued at approximately $68,000. GF Fund Management CO. LTD. acquired a new stake in shares of PTC Therapeutics in the 4th quarter valued at $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PTC Therapeutics during the fourth quarter worth $77,000.

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.