PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells $19,785.18 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 787 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $25.14, for a total value of $19,785.18. Following the completion of the transaction, the chief executive officer now owns 67,694 shares in the company, valued at approximately $1,701,827.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PTC Therapeutics Stock Performance

Shares of PTCT traded up $0.63 during mid-day trading on Friday, hitting $25.32. The company’s stock had a trading volume of 3,930,687 shares, compared to its average volume of 974,529. PTC Therapeutics, Inc. has a one year low of $17.53 and a one year high of $59.84. The stock’s 50-day moving average is $28.08 and its two-hundred day moving average is $25.59. The firm has a market capitalization of $1.94 billion, a PE ratio of -2.98 and a beta of 0.67.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The business had revenue of $307.06 million for the quarter, compared to analysts’ expectations of $315.90 million. Analysts expect that PTC Therapeutics, Inc. will post -5.94 EPS for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in PTC Therapeutics in the 1st quarter valued at approximately $46,000. Los Angeles Capital Management LLC raised its stake in shares of PTC Therapeutics by 23.1% in the first quarter. Los Angeles Capital Management LLC now owns 10,800 shares of the biopharmaceutical company’s stock valued at $314,000 after purchasing an additional 2,024 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of PTC Therapeutics by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock valued at $242,551,000 after purchasing an additional 855,354 shares in the last quarter. Wellington Management Group LLP lifted its position in PTC Therapeutics by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock worth $270,546,000 after purchasing an additional 380,415 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in PTC Therapeutics by 54.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 526,494 shares of the biopharmaceutical company’s stock worth $14,510,000 after buying an additional 186,608 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PTCT. Jefferies Financial Group increased their price target on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. TD Cowen lowered their target price on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. Royal Bank of Canada boosted their price target on PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, March 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of PTC Therapeutics in a research note on Friday, April 12th. Five 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $33.53.

About PTC Therapeutics

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.