PTC Therapeutics (NASDAQ:PTCT) Insider Eric Pauwels Sells 21,277 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Eric Pauwels sold 21,277 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total value of $1,595,775.00. Following the sale, the insider directly owned 73,411 shares in the company, valued at $5,505,825. This trade represents a 22.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $75.14 on Friday. The stock’s 50-day simple moving average is $70.54 and its 200 day simple moving average is $72.17. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of -32.25, a price-to-earnings-growth ratio of 3.44 and a beta of 0.56. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. The business had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.04 EPS. On average, research analysts forecast that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in PTC Therapeutics by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 151 shares during the last quarter. Smartleaf Asset Management LLC grew its position in PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 236 shares during the last quarter. PNC Financial Services Group Inc. grew its position in PTC Therapeutics by 8.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after acquiring an additional 244 shares during the last quarter. Allworth Financial LP grew its position in PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 247 shares during the last quarter. Finally, Optiver Holding B.V. grew its position in PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 249 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada increased their price objective on PTC Therapeutics from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Bank of America reduced their price objective on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Raymond James Financial initiated coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $91.36.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.