Eric Pauwels Sells 20,508 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Eric Pauwels sold 20,508 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $77.26, for a total transaction of $1,584,448.08. Following the transaction, the insider directly owned 70,373 shares of the company’s stock, valued at approximately $5,437,017.98. This represents a 22.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Eric Pauwels also recently made the following trade(s):

• On Wednesday, December 17th, Eric Pauwels sold 40,290 shares of PTC Therapeutics stock. The stock was sold at an average price of $75.43, for a total transaction of $3,039,074.70.
• On Thursday, December 18th, Eric Pauwels sold 3,202 shares of PTC Therapeutics stock. The shares were sold at an average price of $75.06, for a total transaction of $240,342.12.

PTC Therapeutics Price Performance

PTCT opened at $78.37 on Thursday. The firm has a market capitalization of $6.29 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.28 and a beta of 0.47. PTC Therapeutics, Inc. has a one year low of $35.95 and a one year high of $87.50. The company has a fifty day moving average price of $74.25 and a 200-day moving average price of $60.61.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The company had revenue of $211.01 million during the quarter, compared to analyst estimates of $177.42 million. During the same quarter last year, the company earned ($1.39) earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Hedge Funds Weigh In On PTC Therapeutics

A number of large investors have recently added to or reduced their stakes in PTCT. Smartleaf Asset Management LLC boosted its position in PTC Therapeutics by 101.3% during the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 236 shares during the period. Optiver Holding B.V. lifted its stake in shares of PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 249 shares during the last quarter. Comerica Bank boosted its holdings in PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 469 shares during the period. Quantbot Technologies LP grew its position in PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 551 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 310 shares during the period.

Analysts Set New Price Targets

PTCT has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday. Wall Street Zen lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. TD Cowen lifted their price objective on shares of PTC Therapeutics from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. Citigroup upped their target price on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Finally, Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PTC Therapeutics currently has an average rating of “Hold” and an average price target of $76.00.

PTC Therapeutics Company Profile

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.