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

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 1,300 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 101,931 shares in the company, 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 can be accessed through this link.

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 %

Shares of PTCT stock opened at $50.69 on Friday. The stock has a fifty day moving average price of $46.67 and a 200 day moving average price of $41.49. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $54.16.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of PTCT. Toronto Dominion Bank acquired a new position in PTC Therapeutics during the fourth quarter worth $148,363,000. Driehaus Capital Management LLC acquired a new position in PTC Therapeutics during the fourth quarter worth $46,993,000. Point72 Asset Management L.P. raised its holdings in PTC Therapeutics by 150.6% during the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock worth $65,153,000 after purchasing an additional 867,502 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of 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 worth $105,015,000 after acquiring an additional 455,698 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of 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 worth $33,241,000 after acquiring an additional 381,319 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PTCT shares. UBS Group lifted their target price on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Barclays lifted their target price on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Robert W. Baird lifted their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, JPMorgan Chase & Co. lifted their price target on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Hold” and an average price target of $58.85.

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.