Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells $66,783.30 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,333 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $66,783.30. Following the sale, the vice president now directly owns 105,515 shares of the company’s stock, valued at $5,286,301.50. This represents a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, January 7th, Mark Elliott Boulding sold 1,543 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total transaction of $69,959.62.
• On Monday, December 2nd, Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00.

PTC Therapeutics Trading Up 0.6 %

Shares of PTCT stock opened at $50.69 on Monday. The firm has a market capitalization of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62. The firm has a fifty day simple moving average of $46.67 and a two-hundred day simple moving average of $41.62. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $54.16.

Wall Street Analysts Forecast Growth

PTCT has been the subject of a number of recent analyst reports. Royal Bank of Canada increased 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 raised shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $45.00 to $67.00 in a research report on Friday, December 13th. Wells Fargo & Company raised their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Robert W. Baird lifted their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PTC Therapeutics currently has an average rating of “Hold” and an average price target of $58.85.

Institutional Trading of PTC Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp increased its stake in PTC Therapeutics by 132.2% during the 4th 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 in the last quarter. Toronto Dominion Bank purchased a new position in PTC Therapeutics during the 4th quarter worth $148,363,000. GF Fund Management CO. LTD. purchased a new position in PTC Therapeutics during the 4th quarter worth $73,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in PTC Therapeutics by 19.6% during 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 acquiring an additional 26,274 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in PTC Therapeutics during the 4th quarter worth $7,037,000.

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.