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

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) EVP Lee Scott Golden sold 897 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total value of $42,114.15. Following the transaction, the executive vice president now owns 75,997 shares of the company's stock, valued at $3,568,059.15. This trade represents a 1.17 % 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.

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 stock was 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 shares were sold at an average price of $45.34, for a total transaction of $36,725.40.

PTC Therapeutics Stock Performance

NASDAQ PTCT traded down $1.03 on Wednesday, hitting $38.74. The stock had a trading volume of 408,576 shares, compared to its average volume of 841,957. PTC Therapeutics, Inc. has a 52-week low of $24.00 and a 52-week high of $58.38. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -6.52 and a beta of 0.58. The firm has a 50-day moving average of $50.94 and a 200-day moving average of $45.73.

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Analysts Set New Price Targets

PTCT has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Morgan Stanley reiterated an "overweight" rating and issued a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Bank of America upgraded shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $41.00 to $55.00 in a report on Tuesday, March 11th. Scotiabank started coverage on PTC Therapeutics in a research report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $63.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PTCT. Vontobel Holding Ltd. purchased a new position in PTC Therapeutics in the 4th quarter worth approximately $521,000. Raymond James Financial Inc. bought a new stake in PTC Therapeutics during the fourth quarter worth about $2,200,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of PTC Therapeutics by 7.3% in the 3rd 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 in the last quarter. Two Sigma Advisers LP raised its holdings in shares of 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 buying an additional 40,300 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in PTC Therapeutics in the 4th quarter worth approximately $758,000.

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.