PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells $827,269.30 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $53.30, for a total transaction of $827,269.30. Following the completion of the transaction, the vice president now owns 103,901 shares in the company, valued at $5,537,923.30. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mark Elliott Boulding also recently made the following trade(s):

• On Wednesday, February 19th, Mark Elliott Boulding sold 1,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.10, for a total transaction of $66,783.30.
• On Tuesday, January 7th, Mark Elliott Boulding sold 1,543 shares of PTC Therapeutics stock. The stock was sold at an average price of $45.34, for a total transaction of $69,959.62.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $54.50 on Monday. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $55.65. The business has a fifty day moving average of $48.60 and a two-hundred day moving average of $43.63. The company has a market cap of $4.30 billion, a P/E ratio of -9.18 and a beta of 0.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PTCT shares. JPMorgan Chase & Co. raised their target price on shares of PTC Therapeutics from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Robert W. Baird raised their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group lifted their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of PTCT. State of New Jersey Common Pension Fund D lifted its holdings in PTC Therapeutics by 7.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 56,820 shares of the biopharmaceutical company’s stock valued at $2,108,000 after acquiring an additional 3,727 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of PTC Therapeutics by 40.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 15,130 shares of the biopharmaceutical company’s stock worth $561,000 after buying an additional 4,325 shares during the last quarter. KBC Group NV raised its stake in shares of PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of PTC Therapeutics during the 3rd quarter worth $1,450,000. Finally, Quest Partners LLC raised its stake in shares of PTC Therapeutics by 433.9% during the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after buying an additional 18,171 shares during 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.