PTC Therapeutics, Inc. (PTCT) CEO Sells $40,206.90 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Stuart Walter Peltz sold 2,230 shares of PTC Therapeutics stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $18.03, for a total value of $40,206.90. Following the completion of the sale, the chief executive officer now owns 26,646 shares of the company’s stock, valued at $480,427.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of PTC Therapeutics, Inc. (PTCT) opened at $20.51 on Thursday. The company has a quick ratio of 2.97, a current ratio of 3.08 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $850.95, a PE ratio of -7.10 and a beta of 1.23. PTC Therapeutics, Inc. has a 12-month low of $8.12 and a 12-month high of $22.00.

A number of hedge funds have recently made changes to their positions in PTCT. Northern Trust Corp boosted its holdings in PTC Therapeutics by 8.5% during the second quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock worth $11,275,000 after buying an additional 48,308 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in PTC Therapeutics by 75.1% during the second quarter. Oppenheimer & Co. Inc. now owns 42,593 shares of the biopharmaceutical company’s stock worth $781,000 after buying an additional 18,273 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in PTC Therapeutics by 56.3% during the second quarter. New York State Common Retirement Fund now owns 50,650 shares of the biopharmaceutical company’s stock worth $928,000 after buying an additional 18,249 shares during the last quarter. Vanguard Group Inc. boosted its holdings in PTC Therapeutics by 17.2% during the second quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock worth $43,379,000 after buying an additional 346,525 shares during the last quarter. Finally, Nomura Holdings Inc. boosted its holdings in PTC Therapeutics by 28.7% during the second quarter. Nomura Holdings Inc. now owns 50,672 shares of the biopharmaceutical company’s stock worth $928,000 after buying an additional 11,300 shares during the last quarter. Hedge funds and other institutional investors own 86.12% of the company’s stock.

A number of brokerages recently commented on PTCT. ValuEngine upgraded PTC Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday, January 4th. Barclays lowered their price objective on PTC Therapeutics from $22.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 29th. Royal Bank of Canada reiterated a “sector perform” rating on shares of PTC Therapeutics in a research report on Friday, September 29th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $25.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $19.14.

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About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.

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