PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Sells $270,000.00 in 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 transaction of $270,000.00. Following the completion of the transaction, the director now owns 8,867 shares in the company, valued at $478,818. This represents a 36.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PTC Therapeutics Stock Performance

PTCT stock opened at $56.98 on Thursday. The stock has a market capitalization of $4.49 billion, a PE ratio of -9.59 and a beta of 0.66. The company has a fifty day moving average of $49.29 and a 200-day moving average of $44.01. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $58.92.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PTCT. Los Angeles Capital Management LLC boosted its holdings in PTC Therapeutics by 40.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 15,130 shares of the biopharmaceutical company’s stock valued at $561,000 after purchasing an additional 4,325 shares in the last quarter. KBC Group NV lifted its holdings in shares of PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 504 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of PTC Therapeutics in the third quarter valued at approximately $1,450,000. Quest Partners LLC grew its holdings in PTC Therapeutics by 433.9% during the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after acquiring an additional 18,171 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in PTC Therapeutics by 6.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 472,288 shares of the biopharmaceutical company’s stock worth $17,522,000 after acquiring an additional 26,773 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PTCT. 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. The Goldman Sachs Group upped their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. UBS Group lifted their target price on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Scotiabank started coverage on PTC Therapeutics in a research report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 target price for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. 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 company. According to MarketBeat.com, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $64.00.

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.