PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells $827,269.30 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) VP Mark Elliott Boulding sold 15,521 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the sale, the vice president now owns 103,901 shares of the company's stock, valued at approximately $5,537,923.30. The trade was a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mark Elliott Boulding also recently made the following trade(s):

• On Wednesday, February 19th, Mark Elliott Boulding sold 1,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.10, for a total value of $66,783.30.
• On Tuesday, January 7th, Mark Elliott Boulding sold 1,543 shares of PTC Therapeutics stock. The stock was sold at an average price of $45.34, for a total value of $69,959.62.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded down $1.70 during trading on Tuesday, reaching $55.47. The company had a trading volume of 606,373 shares, compared to its average volume of 734,246. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -9.34 and a beta of 0.66. The firm's fifty day moving average is $48.83 and its 200-day moving average is $43.78. PTC Therapeutics, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $58.66.

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Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a "sell" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on shares of PTC Therapeutics from $72.00 to $78.00 and gave the stock an "overweight" rating in a research report on Friday. Cantor Fitzgerald upped their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Scotiabank initiated 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 target for the company. Finally, Bank of America raised shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, PTC Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors have recently modified their holdings of the stock. Vontobel Holding Ltd. acquired a new stake in shares of PTC Therapeutics in the 4th quarter valued at about $521,000. Charles Schwab Investment Management Inc. raised its stake 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 valued at $26,220,000 after purchasing an additional 47,902 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of PTC Therapeutics by 10.3% in the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company's stock valued at $15,947,000 after purchasing an additional 40,300 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of PTC Therapeutics in the 3rd quarter valued at about $698,000. Finally, Quest Partners LLC raised its stake in shares of PTC Therapeutics by 433.9% in the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company's stock valued at $830,000 after purchasing an additional 18,171 shares in the last quarter.

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.