Neil Gregory Almstead Sells 1,300 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,300 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $65,130.00. Following the completion of the transaction, the insider now owns 101,931 shares of the company’s stock, valued at $5,106,743.10. This represents a 1.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Neil Gregory Almstead also recently made the following trade(s):

• On Tuesday, January 7th, Neil Gregory Almstead sold 1,265 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $57,355.10.
• On Monday, December 2nd, Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock. The shares were sold at an average price of $52.06, for a total value of $3,620,773.00.

PTC Therapeutics Stock Up 0.6 %

NASDAQ PTCT opened at $50.69 on Friday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. The business has a 50-day moving average price of $46.67 and a 200-day moving average price of $41.56. PTC Therapeutics, Inc. has a twelve month low of $24.00 and a twelve month high of $54.16.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in PTC Therapeutics by 132.2% during the fourth quarter. Mackenzie Financial Corp now owns 22,776 shares of the biopharmaceutical company’s stock valued at $1,028,000 after buying an additional 12,967 shares during the last quarter. Toronto Dominion Bank bought a new position in PTC Therapeutics during the fourth quarter valued at approximately $148,363,000. GF Fund Management CO. LTD. bought a new position in PTC Therapeutics during the fourth quarter valued at approximately $73,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in PTC Therapeutics by 19.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,251 shares of the biopharmaceutical company’s stock valued at $7,234,000 after buying an additional 26,274 shares during the last quarter. Finally, Woodline Partners LP bought a new position in PTC Therapeutics during the fourth quarter valued at approximately $7,037,000.

Analyst Ratings Changes

A number of research firms recently commented on PTCT. Wells Fargo & Company upped their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Barclays upped their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Robert W. Baird upped their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. UBS Group boosted their price target on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their price target on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics presently has a consensus rating of “Hold” and an average price target of $58.85.

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.