Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Sells $39,829.50 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 795 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $39,829.50. Following the completion of the sale, the executive vice president now directly owns 77,856 shares of the company’s stock, valued at approximately $3,900,585.60. The trade was a 1.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Lee Scott Golden also recently made the following trade(s):

• On Tuesday, January 7th, Lee Scott Golden sold 810 shares of PTC Therapeutics stock. The stock was sold at an average price of $45.34, for a total transaction of $36,725.40.

PTC Therapeutics Trading Up 0.6 %

Shares of NASDAQ PTCT opened at $50.69 on Monday. The firm has a market capitalization of $3.91 billion, a P/E ratio of -8.53 and a beta of 0.62. The firm’s 50-day moving average price is $46.67 and its 200-day moving average price is $41.62. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $54.16.

Analyst Ratings Changes

PTCT has been the topic of several recent research reports. Royal Bank of Canada raised their target price on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $45.00 to $67.00 in a research note on Friday, December 13th. Cantor Fitzgerald upped their target price on PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group raised their price target on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Robert W. Baird boosted their price target on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note 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 stock. According to MarketBeat, PTC Therapeutics currently has a consensus rating of “Hold” and an average target price of $58.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTCT. Charles Schwab Investment Management Inc. raised its position in shares of 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 purchasing an additional 47,902 shares during the period. Two Sigma Advisers LP increased its stake in PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after purchasing an additional 40,300 shares in the last quarter. Vontobel Holding Ltd. bought a new position in shares of PTC Therapeutics in the fourth quarter valued at $521,000. Intech Investment Management LLC bought a new position in shares of PTC Therapeutics in the third quarter valued at $698,000. Finally, Quest Partners LLC grew its holdings in shares of PTC Therapeutics by 433.9% during the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after buying an additional 18,171 shares during 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.