Lee Scott Golden Sells 810 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 810 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $36,725.40. Following the completion of the sale, the executive vice president now owns 79,849 shares of the company’s stock, valued at approximately $3,620,353.66. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $43.94 on Friday. PTC Therapeutics, Inc. has a one year low of $23.58 and a one year high of $54.16. The company has a market cap of $3.39 billion, a PE ratio of -7.40 and a beta of 0.62. The firm’s 50 day simple moving average is $45.19 and its 200 day simple moving average is $38.47.

Hedge Funds Weigh In On PTC Therapeutics

Several large investors have recently modified their holdings of PTCT. Point72 Asset Management L.P. increased its stake in shares of PTC Therapeutics by 945.6% in the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after buying an additional 643,960 shares during the period. Armistice Capital LLC increased its position in PTC Therapeutics by 2.9% during the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock valued at $212,905,000 after purchasing an additional 198,227 shares during the period. Parkman Healthcare Partners LLC bought a new position in PTC Therapeutics during the 3rd quarter worth approximately $7,234,000. Ensign Peak Advisors Inc lifted its position in shares of PTC Therapeutics by 650.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company’s stock worth $6,370,000 after purchasing an additional 180,561 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of PTC Therapeutics by 123.2% in the 2nd quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company’s stock valued at $9,712,000 after purchasing an additional 175,289 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup lifted their price objective on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Raymond James started coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating on the stock. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $64.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 17th. Finally, UBS Group raised their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Hold” and an average price target of $54.08.

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.