PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Allan Steven Jacobson Sells 1,230 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Allan Steven Jacobson sold 1,230 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total transaction of $63,369.60. Following the transaction, the director now owns 19,118 shares of the company’s stock, valued at approximately $984,959.36. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PTC Therapeutics Stock Up 1.7 %

PTC Therapeutics stock opened at $52.80 on Friday. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $55.60. The firm’s 50-day simple moving average is $47.71 and its 200 day simple moving average is $42.72. The firm has a market capitalization of $4.07 billion, a PE ratio of -8.89 and a beta of 0.62.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in PTCT. Toronto Dominion Bank purchased a new stake in shares of PTC Therapeutics in the 4th quarter worth about $148,363,000. Driehaus Capital Management LLC acquired a new position in PTC Therapeutics in the 4th quarter valued at about $46,993,000. Point72 Asset Management L.P. raised its stake in 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 valued at $65,153,000 after purchasing an additional 867,502 shares during the last quarter. Janus Henderson Group PLC raised its stake 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 purchasing an additional 455,698 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in PTC Therapeutics by 107.4% in 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.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Citigroup increased their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Robert W. Baird upped their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PTC Therapeutics from $74.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.08.

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.