Mark Elliott Boulding Sells 1,333 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,333 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $66,783.30. Following the completion of the transaction, the vice president now directly owns 105,515 shares in the company, valued at $5,286,301.50. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• 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 transaction of $69,959.62.
• On Monday, December 2nd, Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00.

PTC Therapeutics Stock Up 0.6 %

Shares of PTCT opened at $50.69 on Monday. The business’s 50-day moving average price is $46.67 and its 200-day moving average price is $41.62. PTC Therapeutics, Inc. has a twelve month low of $24.00 and a twelve month high of $54.16. The stock has a market cap of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Royal Bank of Canada upped their price objective on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Robert W. Baird upped their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Citigroup upped their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of “Hold” and an average target price of $58.85.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after purchasing an additional 47,902 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of PTC Therapeutics by 10.3% in the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after purchasing an additional 40,300 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of PTC Therapeutics in the fourth quarter worth approximately $521,000. Intech Investment Management LLC bought a new position in shares of PTC Therapeutics in the third quarter worth approximately $698,000. Finally, Quest Partners LLC increased its position in shares of PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 18,171 shares during the last quarter.

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.