PTC Therapeutics, Inc. (NASDAQ:PTCT) CFO Pierre Gravier Sells 1,168 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CFO Pierre Gravier sold 1,168 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $58,516.80. Following the completion of the transaction, the chief financial officer now owns 75,603 shares in the company, valued at approximately $3,787,710.30. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $50.69 on Friday. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $54.16. The business’s fifty day moving average is $46.67 and its 200-day moving average is $41.56.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays increased their target price on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald increased their target price on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group increased their target price on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Robert W. Baird raised their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.85.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its stake in shares of PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 270 shares during the period. Sterling Capital Management LLC raised its stake in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 522 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of PTC Therapeutics during the 4th quarter worth $68,000. GF Fund Management CO. LTD. bought a new stake in shares of PTC Therapeutics during the 4th quarter worth $73,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PTC Therapeutics during the 4th quarter worth $77,000.

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.