Stephanie Okey Sells 5,000 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Stephanie Okey sold 5,000 shares of the 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 transaction, the director now owns 8,867 shares in the company, valued at approximately $478,818. This trade represents a 36.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $57.17 on Tuesday. The stock has a market cap of $4.51 billion, a P/E ratio of -9.62 and a beta of 0.66. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $58.66. The stock has a fifty day moving average price of $48.83 and a 200 day moving average price of $43.78.

Analysts Set New Price Targets

PTCT has been the topic of several analyst reports. Royal Bank of Canada increased their price target on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Bank of America upgraded PTC Therapeutics from an “underperform” rating to a “neutral” rating and increased their price target for the company from $41.00 to $55.00 in a report on Tuesday, March 11th. Barclays increased their price target on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Citigroup increased their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Finally, Scotiabank assumed coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vontobel Holding Ltd. bought a new position in PTC Therapeutics in the fourth quarter worth $521,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after acquiring an additional 47,902 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after acquiring an additional 40,300 shares during the period. Intech Investment Management LLC bought a new position in shares of PTC Therapeutics during the third quarter valued at $698,000. Finally, Quest Partners LLC lifted its holdings in shares of PTC Therapeutics by 433.9% during the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 18,171 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.