Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells 787 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 787 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $1,701,827.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

PTC Therapeutics Stock Up 2.6 %

PTCT opened at $25.32 on Friday. The business’s fifty day simple moving average is $28.08 and its 200 day simple moving average is $25.59. PTC Therapeutics, Inc. has a 52 week low of $17.53 and a 52 week high of $59.84.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PTCT shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a research report on Friday, April 12th. Jefferies Financial Group increased their price objective on PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. TD Cowen cut their price objective on 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. Finally, Royal Bank of Canada increased their price objective 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. Five equities research 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, the stock has a consensus rating of “Hold” and an average price target of $33.53.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PTCT. Armistice Capital LLC boosted its stake in PTC Therapeutics by 90.0% in the 3rd quarter. Armistice Capital LLC now owns 6,150,000 shares of the biopharmaceutical company’s stock worth $137,822,000 after buying an additional 2,914,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in PTC Therapeutics by 39.0% in the 3rd quarter. Wellington Management Group LLP now owns 9,436,188 shares of the biopharmaceutical company’s stock worth $211,465,000 after buying an additional 2,649,824 shares during the last quarter. Vanguard Group Inc. boosted its stake in PTC Therapeutics by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock worth $242,551,000 after buying an additional 855,354 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in PTC Therapeutics by 373.2% in the 4th quarter. Voloridge Investment Management LLC now owns 819,746 shares of the biopharmaceutical company’s stock worth $22,592,000 after buying an additional 646,513 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of PTC Therapeutics in the 4th quarter worth about $24,587,000.

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.