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

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

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $43.94 on Friday. PTC Therapeutics, Inc. has a 1 year low of $23.58 and a 1 year high of $54.16. The stock has a market cap of $3.39 billion, a PE ratio of -7.40 and a beta of 0.62. The firm has a fifty day moving average price of $45.19 and a 200 day moving average price of $38.44.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its holdings in PTC Therapeutics by 945.6% during the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after acquiring an additional 643,960 shares during the period. Armistice Capital LLC grew its stake in shares of PTC Therapeutics by 2.9% during the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after purchasing an additional 198,227 shares during the period. Parkman Healthcare Partners LLC purchased a new position in shares of PTC Therapeutics during the 3rd quarter valued at approximately $7,234,000. Ensign Peak Advisors Inc lifted its stake in shares of PTC Therapeutics by 650.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company’s stock valued at $6,370,000 after purchasing an additional 180,561 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of PTC Therapeutics by 123.2% in the 2nd quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company’s stock valued at $9,712,000 after purchasing an additional 175,289 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PTCT shares. Royal Bank of Canada raised shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $39.00 to $63.00 in a report on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $64.00 target price on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Morgan Stanley raised PTC Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $45.00 to $67.00 in a report on Friday, December 13th. UBS Group upped their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird lifted their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PTC Therapeutics currently has an average rating of “Hold” and a consensus price target 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.