PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Sells $1,236,000.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Jerome B. Zeldis sold 24,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $51.50, for a total transaction of $1,236,000.00. Following the completion of the sale, the director now directly owns 14,500 shares in the company, valued at $746,750. This represents a 62.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PTC Therapeutics Stock Down 0.9 %

PTCT stock opened at $49.86 on Thursday. PTC Therapeutics, Inc. has a fifty-two week low of $23.58 and a fifty-two week high of $54.16. The firm’s 50-day simple moving average is $41.06 and its 200 day simple moving average is $36.66.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PTCT. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. UBS Group upped their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group upped their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley increased their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Hold” and a consensus target price of $52.38.

Institutional Trading of PTC Therapeutics

A number of large investors have recently modified their holdings of the company. Choreo LLC increased its holdings in shares of PTC Therapeutics by 4.1% in 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 during the period. Mirae Asset Global Investments Co. Ltd. grew its position in PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares in the last quarter. KBC Group NV grew its position in PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 504 shares in the last quarter. Arizona State Retirement System grew its position in PTC Therapeutics by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock valued at $590,000 after buying an additional 636 shares in the last quarter. Finally, Creative Planning grew its position in PTC Therapeutics by 8.1% in the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 816 shares in the last quarter.

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.