PTC Therapeutics, Inc. (NASDAQ:PTCT) CFO Pierre Gravier Sells 1,168 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CFO Pierre Gravier sold 1,168 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $58,516.80. Following the completion of the transaction, the chief financial officer now directly owns 75,603 shares of the company’s stock, valued at $3,787,710.30. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

PTC Therapeutics Stock Up 0.6 %

PTCT stock opened at $50.69 on Monday. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $54.16. The stock’s fifty day simple moving average is $46.67 and its 200-day simple moving average is $41.62. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. increased 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. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. The Goldman Sachs Group increased their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $45.00 to $67.00 in a report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.85.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its position in shares of PTC Therapeutics by 78.7% in the 4th 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 raised 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 worth $29,000 after buying an additional 522 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of PTC Therapeutics in the 4th quarter worth $68,000. GF Fund Management CO. LTD. purchased a new position in shares of PTC Therapeutics in the 4th quarter worth $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PTC Therapeutics in the 4th quarter worth $77,000.

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.