PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden Sells 897 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 897 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total transaction of $42,114.15. Following the sale, the executive vice president now directly owns 75,997 shares in the company, valued at $3,568,059.15. This trade represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, February 19th, Lee Scott Golden sold 795 shares of PTC Therapeutics stock. The shares were sold at an average price of $50.10, for a total transaction of $39,829.50.
• 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 value of $36,725.40.

PTC Therapeutics Trading Down 7.5 %

Shares of PTCT stock opened at $43.24 on Friday. The stock has a market cap of $3.41 billion, a P/E ratio of -7.28 and a beta of 0.58. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $58.38. The stock has a 50 day simple moving average of $51.22 and a 200 day simple moving average of $45.56.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Scotiabank started coverage on shares of PTC Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $55.00 price objective for the company. Cantor Fitzgerald increased their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.77.

Institutional Trading of PTC Therapeutics

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of PTC Therapeutics by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock worth $414,332,000 after purchasing an additional 53,688 shares during the period. Toronto Dominion Bank bought a new position in PTC Therapeutics in the 4th quarter valued at about $148,363,000. State Street Corp raised its position 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 buying an additional 149,700 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of 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 valued at $105,015,000 after buying an additional 455,698 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of PTC Therapeutics by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after acquiring 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.