PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels Sells 787 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 787 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $25.14, for a total value of $19,785.18. Following the completion of the sale, the chief executive officer now directly owns 67,694 shares of the company’s stock, valued at $1,701,827.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

PTC Therapeutics Stock Performance

NASDAQ PTCT traded up $0.63 during mid-day trading on Friday, reaching $25.32. 3,930,687 shares of the stock were exchanged, compared to its average volume of 974,529. The stock has a market capitalization of $1.94 billion, a PE ratio of -2.98 and a beta of 0.67. PTC Therapeutics, Inc. has a 1-year low of $17.53 and a 1-year high of $59.84. The business’s fifty day simple moving average is $28.08 and its 200 day simple moving average is $25.59.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.53). The firm had revenue of $307.06 million during the quarter, compared to analyst estimates of $315.90 million. On average, analysts anticipate that PTC Therapeutics, Inc. will post -5.94 EPS for the current year.

Analyst Upgrades and Downgrades

PTCT has been the subject of a number of research reports. TD Cowen reduced their price target on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, March 1st. Jefferies Financial Group upped their target price on PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Royal Bank of Canada lifted their price target on PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, March 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a research note on Friday, April 12th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $33.53.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates lifted its position in PTC Therapeutics by 17.5% during the first quarter. Raymond James & Associates now owns 8,341 shares of the biopharmaceutical company’s stock valued at $311,000 after buying an additional 1,243 shares in the last quarter. US Bancorp DE boosted its position in PTC Therapeutics by 9.9% during the 1st quarter. US Bancorp DE now owns 9,257 shares of the biopharmaceutical company’s stock worth $345,000 after purchasing an additional 832 shares during the period. MetLife Investment Management LLC increased its holdings in PTC Therapeutics by 53.8% in the 1st quarter. MetLife Investment Management LLC now owns 38,439 shares of the biopharmaceutical company’s stock valued at $1,434,000 after purchasing an additional 13,448 shares in the last quarter. Sei Investments Co. raised its position in PTC Therapeutics by 2.1% in the first quarter. Sei Investments Co. now owns 44,938 shares of the biopharmaceutical company’s stock valued at $1,677,000 after purchasing an additional 931 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of PTC Therapeutics by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,933,076 shares of the biopharmaceutical company’s stock worth $258,673,000 after purchasing an additional 44,167 shares in the last quarter.

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.