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 business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $39,829.50. Following the completion of the transaction, the executive vice president now directly owns 77,856 shares in the company, valued at approximately $3,900,585.60. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Stock Up 0.6 %

PTCT traded up $0.31 during trading on Friday, reaching $50.69. The company had a trading volume of 423,037 shares, compared to its average volume of 686,683. The business has a 50 day simple moving average of $46.58 and a 200-day simple moving average of $41.35. The stock has a market cap of $3.91 billion, a P/E ratio of -8.53 and a beta of 0.62. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $54.16.

Institutional Investors Weigh In On PTC Therapeutics

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PTCT. Cantor Fitzgerald raised their target price on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays increased their price objective on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Morgan Stanley raised PTC Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $45.00 to $67.00 in a report on Friday, December 13th. Wells Fargo & Company increased their price target on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PTC Therapeutics currently has a consensus rating of “Hold” and an average price target of $58.85.

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.