PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Sells $63,369.60 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Allan Steven Jacobson sold 1,230 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total value of $63,369.60. Following the completion of the transaction, the director now owns 19,118 shares of the company’s stock, valued at $984,959.36. The trade was a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PTC Therapeutics Stock Down 0.4 %

Shares of NASDAQ:PTCT opened at $52.59 on Friday. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $55.60. The stock has a market cap of $4.15 billion, a PE ratio of -8.85 and a beta of 0.66. The business has a 50 day moving average of $47.85 and a 200-day moving average of $42.91.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock worth $414,332,000 after acquiring an additional 53,688 shares during the period. Toronto Dominion Bank bought a new stake in shares of PTC Therapeutics during the fourth quarter worth approximately $148,363,000. State Street Corp boosted its holdings in shares of PTC Therapeutics by 5.4% during the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after acquiring an additional 149,700 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of PTC Therapeutics by 24.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after acquiring an additional 455,698 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of PTC Therapeutics by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock valued at $66,743,000 after buying an additional 10,886 shares in the last quarter.

Analysts Set New Price Targets

PTCT has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. UBS Group raised their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Barclays raised their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Scotiabank assumed coverage on PTC Therapeutics in a report on Friday. They set a “sector perform” rating and a $55.00 price target for the company. 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 issued 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 an average target price of $61.77.

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.