PTC Therapeutics (NASDAQ:PTCT) Insider Eric Pauwels Sells 40,290 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Eric Pauwels sold 40,290 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $75.43, for a total transaction of $3,039,074.70. Following the transaction, the insider directly owned 70,373 shares of the company’s stock, valued at $5,308,235.39. This represents a 36.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

PTC Therapeutics Trading Up 5.3%

Shares of PTCT opened at $78.57 on Friday. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50. The firm has a fifty day simple moving average of $73.57 and a 200 day simple moving average of $59.98. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.27 and a beta of 0.47.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of ($1.19) by $1.39. The firm had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.39) EPS. As a group, research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PTCT shares. Jefferies Financial Group raised their price target on PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Barclays upped their price target on shares of PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Royal Bank Of Canada downgraded shares of PTC Therapeutics from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $82.00 to $91.00 in a research note on Monday, December 1st. Finally, Wells Fargo & Company boosted their price target on PTC Therapeutics from $73.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.00.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in PTC Therapeutics by 101.3% in the 3rd 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 last quarter. Optiver Holding B.V. increased its stake in shares of PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the period. Comerica Bank lifted its holdings in PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the last quarter. Quantbot Technologies LP grew its holdings in PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 551 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 320 shares during the period.

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.