PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Sells $827,269.30 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 15,521 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the completion of the sale, the vice president now directly owns 103,901 shares in the company, valued at approximately $5,537,923.30. The trade was a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, February 19th, Mark Elliott Boulding sold 1,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.10, for a total value of $66,783.30.
• On Tuesday, January 7th, Mark Elliott Boulding sold 1,543 shares of PTC Therapeutics stock. The stock was sold at an average price of $45.34, for a total value of $69,959.62.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $54.50 on Friday. The company has a market cap of $4.30 billion, a P/E ratio of -9.18 and a beta of 0.66. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $55.65. The stock’s fifty day moving average price is $48.60 and its 200-day moving average price is $43.57.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PTCT. Toronto Dominion Bank bought a new position in PTC Therapeutics in the fourth quarter valued at about $148,363,000. Driehaus Capital Management LLC bought a new position in PTC Therapeutics in the fourth quarter valued at about $46,993,000. Point72 Asset Management L.P. lifted its holdings in PTC Therapeutics by 150.6% in the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock valued at $65,153,000 after acquiring an additional 867,502 shares during the period. Janus Henderson Group PLC lifted its holdings in PTC Therapeutics by 24.4% in the fourth 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 during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in PTC Therapeutics by 107.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock valued at $33,241,000 after acquiring an additional 381,319 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PTCT. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their target price on PTC Therapeutics from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday. Bank of America raised PTC Therapeutics from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. Citigroup increased their target price on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company increased their target price on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.00.

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.