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

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 897 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total transaction of $42,114.15. Following the transaction, the executive vice president now directly owns 75,997 shares of the company’s stock, valued at $3,568,059.15. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 shares were sold at an average price of $50.10, for a total value 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 value of $36,725.40.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $43.24 on Friday. The business has a 50-day simple moving average of $51.22 and a 200 day simple moving average of $45.63. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -7.28 and a beta of 0.58. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $58.38.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup upped their target price on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on shares of PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Finally, Royal Bank of Canada increased their price target on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.77.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank bought a new stake in PTC Therapeutics during the 4th quarter valued at $148,363,000. Driehaus Capital Management LLC bought a new stake in shares of PTC Therapeutics during the fourth quarter worth about $46,993,000. Point72 Asset Management L.P. raised its holdings in shares of PTC Therapeutics by 150.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock worth $65,153,000 after acquiring an additional 867,502 shares during the last quarter. Janus Henderson Group PLC lifted its position in PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock valued at $105,015,000 after acquiring an additional 455,698 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in PTC Therapeutics by 107.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock valued at $33,241,000 after purchasing an additional 381,319 shares during 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.