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

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

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $43.94 on Friday. The company has a market cap of $3.39 billion, a P/E ratio of -7.40 and a beta of 0.62. PTC Therapeutics, Inc. has a 1-year low of $23.58 and a 1-year high of $54.16. The stock has a 50-day moving average of $45.19 and a two-hundred day moving average of $38.47.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after buying an additional 47,902 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after acquiring an additional 40,300 shares during the period. Intech Investment Management LLC acquired a new stake in shares of PTC Therapeutics in the third quarter valued at $698,000. Quest Partners LLC boosted its holdings in PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 18,171 shares during the period. Finally, State Street Corp grew its stake in PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PTCT shares. Raymond James began coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They set a “market perform” rating for the company. 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 company from $39.00 to $63.00 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 Wednesday, December 18th. Robert W. Baird lifted their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $45.00 to $67.00 in a report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.