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

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

PTC Therapeutics Stock Down 2.4 %

Shares of PTCT traded down $1.10 during midday trading on Friday, reaching $43.94. The company had a trading volume of 548,622 shares, compared to its average volume of 529,154. PTC Therapeutics, Inc. has a 1-year low of $23.58 and a 1-year high of $54.16. The firm has a 50 day simple moving average of $45.12 and a 200-day simple moving average of $38.39. The stock has a market cap of $3.39 billion, a PE ratio of -7.40 and a beta of 0.62.

Institutional Trading of PTC Therapeutics

Several hedge funds have recently made changes to their positions in PTCT. Rhumbline Advisers lifted its stake in PTC Therapeutics by 6.7% during the second quarter. Rhumbline Advisers now owns 116,396 shares of the biopharmaceutical company’s stock worth $3,559,000 after purchasing an additional 7,314 shares during the last quarter. Arizona State Retirement System lifted its position in shares of PTC Therapeutics by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 636 shares during the last quarter. Quest Partners LLC acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at $128,000. Choreo LLC raised its stake in PTC Therapeutics by 4.1% during the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock worth $356,000 after acquiring an additional 452 shares in the last quarter. Finally, Headlands Technologies LLC lifted its position in PTC Therapeutics by 83.2% in the second quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock valued at $202,000 after acquiring an additional 3,002 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have recently commented on PTCT shares. UBS Group increased their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Raymond James started coverage on PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of PTC Therapeutics in a report on Tuesday, September 17th. Finally, 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. 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. According to data from MarketBeat.com, PTC Therapeutics has a consensus rating of “Hold” and an average target price 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.