PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells $66,783.30 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,333 shares of PTC Therapeutics stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $66,783.30. Following the sale, the vice president now directly owns 105,515 shares of the company’s stock, valued at approximately $5,286,301.50. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, January 7th, Mark Elliott Boulding sold 1,543 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $69,959.62.
• 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 value of $4,473,456.00.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $50.69 on Friday. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $54.16. The firm has a market capitalization of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62. The business’s 50-day simple moving average is $46.67 and its 200-day simple moving average is $41.56.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after buying an additional 47,902 shares in the last quarter. Two Sigma Advisers LP grew its position in PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after buying an additional 40,300 shares in the last quarter. Intech Investment Management LLC acquired a new stake in PTC Therapeutics during the third quarter worth about $698,000. Vontobel Holding Ltd. acquired a new stake in PTC Therapeutics during the fourth quarter worth about $521,000. Finally, Quest Partners LLC grew its position in PTC Therapeutics by 433.9% during the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after buying an additional 18,171 shares in the last quarter.

Analyst Ratings Changes

PTCT has been the topic of several recent research reports. UBS Group raised their target price on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Robert W. Baird raised their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada raised their target price on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.