PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells $69,037.80 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 1,378 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $69,037.80. Following the completion of the sale, the chief executive officer now directly owns 85,427 shares in the company, valued at approximately $4,279,892.70. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, January 7th, Eric Pauwels sold 1,599 shares of PTC Therapeutics stock. The shares were sold at an average price of $45.34, for a total value of $72,498.66.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $50.69 on Monday. The firm has a market capitalization of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62. The business’s fifty day moving average price is $46.67 and its 200 day moving average price is $41.62. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $54.16.

Hedge Funds Weigh In On PTC Therapeutics

Several large investors have recently bought and sold shares of the business. Mackenzie Financial Corp increased its holdings in PTC Therapeutics by 132.2% in the fourth quarter. Mackenzie Financial Corp now owns 22,776 shares of the biopharmaceutical company’s stock valued at $1,028,000 after buying an additional 12,967 shares during the last quarter. Toronto Dominion Bank acquired a new position in PTC Therapeutics in the fourth quarter valued at $148,363,000. GF Fund Management CO. LTD. acquired a new position in PTC Therapeutics in the fourth quarter valued at $73,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in PTC Therapeutics by 19.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,251 shares of the biopharmaceutical company’s stock valued at $7,234,000 after acquiring an additional 26,274 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in PTC Therapeutics in the fourth quarter valued at $7,037,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PTCT. Barclays boosted their target price on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Citigroup upped their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Robert W. Baird upped their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley raised PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics has a consensus rating of “Hold” and a consensus price target of $58.85.

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.