Ptc Therapeutics’ chief medical officer sells shares worth $42,114

Golden Lee Scott, Executive Vice President and Chief Medical (TASE:BLWV) Officer at PTC (NASDAQ:PTC) Therapeutics, Inc. (NASDAQ:PTCT), recently sold 897 shares of the company’s common stock. The transaction, which occurred on April 2, 2025, was executed at a price of $46.95 per share, amounting to a total value of $42,114. Following this sale, Scott retains ownership of 75,997 shares. The sale comes amid a challenging week for PTC Therapeutics, with the stock down nearly 14%, though it maintains an impressive 68% gain over the past year. According to InvestingPro analysis, the company’s current market value stands at $3.4 billion, with analyst price targets ranging from $42 to $113.

The sale was part of an automatic transaction to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). Specifically, these shares were sold to satisfy tax requirements connected to the vesting of 2,100 RSUs from a grant made on April 24, 2023. For deeper insights into PTCT’s valuation metrics and additional ProTips, explore the comprehensive research available on InvestingPro, which offers exclusive analysis and Fair Value estimates for over 1,400 US stocks.

In other recent news, PTC Therapeutics has faced a setback as the European Commission decided not to renew the marketing authorization for Translarna in the treatment of nonsense mutation Duchenne muscular dystrophy within the European Economic Area. Despite this, the company remains hopeful about working with individual EU member states to ensure continued access to the drug. On a more positive note, PTC Therapeutics reported progress in its Phase 3 APHENITY trial for phenylketonuria (PKU) treatment with sepiapterin, showing potential benefits for patients in managing their condition with less restrictive diets.

In the realm of stock analysis, BofA Securities upgraded PTC Therapeutics from Underperform to Neutral, raising the price target to $55, following the FDA’s expedited review process for vatiquinone, a drug aimed at treating Friedrich’s ataxia. Scotiabank (TSX:BNS) also initiated coverage of PTC Therapeutics with a Sector Perform rating and a $55 price target, noting that the company’s stock is fairly valued in the market. Meanwhile, Cantor Fitzgerald maintained its Overweight rating with a price target of $113, reflecting confidence in the company’s growth potential despite acknowledging some adjustments in revenue projections.

These developments underscore PTC Therapeutics’ ongoing efforts in advancing treatments for rare disorders and the mixed reactions from analysts regarding its stock performance and future prospects.

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