PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Stephanie Okey sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the transaction, the director now owns 8,867 shares in the company, valued at $478,818. This represents a 36.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
PTC Therapeutics Stock Performance
Shares of PTC Therapeutics stock traded up $0.48 during midday trading on Friday, hitting $57.11. The company had a trading volume of 297,255 shares, compared to its average volume of 731,274. The stock has a market capitalization of $4.50 billion, a P/E ratio of -9.54 and a beta of 0.66. The company has a 50 day moving average of $49.52 and a 200 day moving average of $44.10. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $58.38.
Hedge Funds Weigh In On PTC Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of PTCT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PTC Therapeutics by 0.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock worth $2,967,000 after purchasing an additional 205 shares in the last quarter. Arizona State Retirement System increased its stake in shares of PTC Therapeutics by 1.1% in the 4th quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company's stock worth $907,000 after purchasing an additional 219 shares in the last quarter. Choreo LLC increased its stake in shares of PTC Therapeutics by 2.0% in the 4th quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company's stock worth $541,000 after purchasing an additional 240 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of PTC Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company's stock worth $360,000 after purchasing an additional 253 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 270 shares in the last quarter.
Analyst Upgrades and Downgrades
PTCT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on PTC Therapeutics from $72.00 to $78.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Robert W. Baird lifted their price target on PTC Therapeutics from $52.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Citigroup lifted their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. Scotiabank initiated coverage on PTC Therapeutics in a report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price target on the stock. Finally, Morgan Stanley reissued an "overweight" rating and issued a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Two 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, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $64.00.
Read Our Latest Research Report on PTCT
PTC Therapeutics Company Profile
(
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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.
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