Eric Pauwels Sells 1,599 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 1,599 shares of PTC Therapeutics stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $72,498.66. Following the completion of the sale, the chief executive officer now owns 88,941 shares in the company, valued at approximately $4,032,584.94. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PTC Therapeutics Price Performance

PTCT stock traded down $1.10 during trading on Friday, hitting $43.94. 548,622 shares of the stock traded hands, compared to its average volume of 529,154. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -7.40 and a beta of 0.62. PTC Therapeutics, Inc. has a 1 year low of $23.58 and a 1 year high of $54.16. The firm’s 50 day moving average is $45.12 and its two-hundred day moving average is $38.39.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors have recently made changes to their positions in the company. KBC Group NV boosted its stake in shares of PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares during the last quarter. CWM LLC raised its stake in PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares in the last quarter. Quest Partners LLC purchased a new position in shares of PTC Therapeutics in the second quarter valued at about $128,000. Finally, Quarry LP boosted its stake in PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 2,500 shares during the period.

Analysts Set New Price Targets

Several brokerages recently issued reports on PTCT. JPMorgan Chase & Co. boosted their price target on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Raymond James initiated coverage on PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating on the stock. Royal Bank of Canada upgraded PTC Therapeutics from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company upped their price target on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, UBS Group raised their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $54.08.

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.