Mark Elliott Boulding Sells 1,543 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,543 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $69,959.62. Following the sale, the vice president now directly owns 108,846 shares of the company’s stock, valued at $4,935,077.64. This represents a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Mark Elliott Boulding also recently made the following trade(s):

• On Monday, December 2nd, Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00.

PTC Therapeutics Trading Down 2.4 %

PTC Therapeutics stock 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 firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -7.40 and a beta of 0.62. The firm’s fifty day moving average price is $45.19 and its two-hundred day moving average price is $38.47.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup upped their price target on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Robert W. Baird upped their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their price target on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley raised shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $54.08.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PTCT. Armistice Capital LLC lifted its holdings in shares of PTC Therapeutics by 2.9% in the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock valued at $212,905,000 after purchasing an additional 198,227 shares in the last quarter. State Street Corp lifted its stake in PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after acquiring an additional 149,700 shares in the last quarter. Geode Capital Management LLC lifted its stake in PTC Therapeutics by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after acquiring an additional 10,886 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of PTC Therapeutics by 7.4% in the 2nd quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock worth $25,017,000 after acquiring an additional 56,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PTC Therapeutics by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after acquiring an additional 47,902 shares in 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.