Eric Pauwels Sells 1,378 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Eric Pauwels sold 1,378 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $69,037.80. Following the completion of the transaction, the chief executive officer now directly owns 85,427 shares in the company, valued at $4,279,892.70. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $45.34, for a total value of $72,498.66.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $50.69 on Friday. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $54.16. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. The stock’s 50-day simple moving average is $46.67 and its 200-day simple moving average is $41.56.

Analysts Set New Price Targets

Several research analysts have commented on PTCT shares. JPMorgan Chase & Co. raised their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Barclays raised their price objective 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. StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. The Goldman Sachs Group raised their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald raised their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $58.85.

Institutional Trading of PTC Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of PTCT. CWM LLC increased its position in shares of PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares during the last quarter. Creative Planning grew its stake in PTC Therapeutics by 8.1% in the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 816 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in PTC Therapeutics by 32.1% in the third quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock worth $18,270,000 after purchasing an additional 119,637 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 492 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in PTC Therapeutics by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,795 shares of the biopharmaceutical company’s stock worth $549,000 after purchasing an additional 5,783 shares in the last quarter.

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.