PTC Therapeutics, Inc. (NASDAQ:PTCT) CFO Sells $58,516.80 in Stock

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

PTC Therapeutics Stock Up 0.6 %

PTCT opened at $50.69 on Monday. The business has a 50 day moving average price of $46.67 and a two-hundred day moving average price of $41.62. The company has a market cap of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $54.16.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of recent analyst reports. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Wells Fargo & Company lifted their target price on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. UBS Group lifted their target price on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Barclays lifted their target price on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

Institutional Trading of PTC Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank purchased a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $148,363,000. Driehaus Capital Management LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $46,993,000. Point72 Asset Management L.P. raised its stake in shares of PTC Therapeutics by 150.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock worth $65,153,000 after buying an additional 867,502 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of PTC Therapeutics by 24.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after buying an additional 455,698 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of PTC Therapeutics by 107.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock worth $33,241,000 after buying an additional 381,319 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.