Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Sells 1,230 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Allan Steven Jacobson sold 1,230 shares of the company's stock in a transaction on 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 sale, the director now owns 19,118 shares in the company, valued at $984,959.36. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT traded down $0.10 during midday trading on Monday, hitting $52.49. 1,130,058 shares of the company's stock were exchanged, compared to its average volume of 754,353. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $55.60. The company has a market cap of $4.14 billion, a PE ratio of -8.84 and a beta of 0.66. The stock has a 50 day moving average price of $47.85 and a 200-day moving average price of $42.97.

Analysts Set New Price Targets

Several brokerages have recently commented on PTCT. Citigroup lifted their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped 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. The Goldman Sachs Group raised their price target on PTC Therapeutics from $32.00 to $42.00 and gave the stock a "sell" rating in a research report on Wednesday, December 4th. Cantor Fitzgerald lifted their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on PTC Therapeutics from $74.00 to $72.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $61.77.

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Institutional Trading of PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in PTC Therapeutics during the fourth quarter worth $4,891,000. Mackenzie Financial Corp raised its holdings in shares of PTC Therapeutics by 132.2% in the fourth quarter. Mackenzie Financial Corp now owns 22,776 shares of the biopharmaceutical company's stock valued at $1,028,000 after purchasing an additional 12,967 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of PTC Therapeutics during the fourth quarter valued at about $148,363,000. GF Fund Management CO. LTD. purchased a new position in PTC Therapeutics during the fourth quarter worth about $73,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PTC Therapeutics by 19.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,251 shares of the biopharmaceutical company's stock worth $7,234,000 after purchasing an additional 26,274 shares in the last quarter.

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.