PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Sells $764,800.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Jerome B. Zeldis sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total value of $764,800.00. Following the completion of the transaction, the director now directly owns 14,500 shares in the company, valued at $554,480. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

PTC Therapeutics Trading Up 0.2 %

Shares of NASDAQ PTCT opened at $37.20 on Friday. PTC Therapeutics, Inc. has a 12-month low of $17.53 and a 12-month high of $46.76. The company has a market cap of $2.85 billion, a price-to-earnings ratio of -4.84 and a beta of 0.63. The stock’s 50 day simple moving average is $30.11 and its 200 day simple moving average is $27.65.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share for the quarter, topping the consensus estimate of ($1.21) by $0.01. The company had revenue of $210.12 million during the quarter, compared to analyst estimates of $160.27 million. As a group, equities analysts forecast that PTC Therapeutics, Inc. will post -5.27 earnings per share for the current fiscal year.

Institutional Trading of PTC Therapeutics

A number of large investors have recently modified their holdings of PTCT. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PTC Therapeutics by 12.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,465 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 1,509 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of PTC Therapeutics by 12.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,075 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 559 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of PTC Therapeutics by 5.1% during the third quarter. Teacher Retirement System of Texas now owns 18,941 shares of the biopharmaceutical company’s stock worth $424,000 after buying an additional 922 shares during the period. Nisa Investment Advisors LLC grew its holdings in PTC Therapeutics by 317.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 2,019 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in PTC Therapeutics by 799.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 52,033 shares of the biopharmaceutical company’s stock valued at $1,166,000 after acquiring an additional 46,247 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PTCT shares. JPMorgan Chase & Co. upped their price target on shares of PTC Therapeutics from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Citigroup boosted their target price on shares of PTC Therapeutics from $18.00 to $26.00 and gave the stock a “sell” rating in a research report on Tuesday, May 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of PTC Therapeutics in a research report on Friday, April 12th. Raymond James raised PTC Therapeutics from an “underperform” rating to a “market perform” rating in a report on Monday, May 20th. Finally, TD Cowen reduced their target price on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.67.

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.