Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells 1,333 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,333 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $66,783.30. Following the completion of the transaction, the vice president now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction of $69,959.62.
• On Monday, December 2nd, Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00.

PTC Therapeutics Stock Up 0.6 %

PTCT stock traded up $0.31 during trading hours on Friday, hitting $50.69. The company’s stock had a trading volume of 423,037 shares, compared to its average volume of 686,683. The stock has a 50 day moving average price of $46.58 and a two-hundred day moving average price of $41.35. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $54.16. The company has a market capitalization of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PTCT shares. 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. The Goldman Sachs Group increased their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. UBS Group lifted their target price on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price target on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Robert W. Baird raised their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Three equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently bought and sold shares of PTCT. Vanguard Group Inc. raised its holdings in PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock valued at $414,332,000 after buying an additional 53,688 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of PTC Therapeutics during the 4th quarter valued at about $148,363,000. State Street Corp raised its stake in shares of PTC Therapeutics by 5.4% in 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. Janus Henderson Group PLC lifted its holdings in PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after purchasing an additional 455,698 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in PTC Therapeutics by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares during the period.

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.