PTC Therapeutics (NASDAQ:PTCT) Hits New 1-Year High - What's Next?

Key Points

• PTC Therapeutics shares reached a new 52-week high of $63.33, reflecting strong trading activity with 86781 shares exchanged.
• Analyst ratings show mixed opinions, with Barclays raising the target price to $46.00 while Cantor Fitzgerald issued a target of $118.00 and assigned an "overweight" rating.
• PTC Therapeutics reported better-than-expected earnings with EPS of ($0.83), surpassing the consensus estimate of ($1.07) by $0.24.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $63.33 and last traded at $62.36, with a volume of 86781 shares traded. The stock had previously closed at $62.01.

Analyst Upgrades and Downgrades

A number of analysts have commented on PTCT shares. Barclays lifted their target price on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Wall Street Zen lowered shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Cantor Fitzgerald reissued an "overweight" rating and issued a $118.00 price target on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Truist Financial boosted their price target on shares of PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Bank of America decreased their price target on shares of PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

PTC Therapeutics Stock Performance

The firm's 50-day simple moving average is $53.46 and its 200 day simple moving average is $50.17. The stock has a market capitalization of $4.93 billion, a P/E ratio of 8.90 and a beta of 0.55.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The firm had revenue of $178.88 million for the quarter, compared to analysts' expectations of $173.01 million. During the same period in the previous year, the firm posted ($1.29) EPS. The company's revenue for the quarter was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, research analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Emma Reeve sold 15,705 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $59.50, for a total transaction of $934,447.50. Following the transaction, the director directly owned 10,332 shares in the company, valued at $614,754. The trade was a 60.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David P. Southwell sold 12,000 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $58.34, for a total transaction of $700,080.00. Following the transaction, the director owned 16,850 shares in the company, valued at $983,029. This represents a 41.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,393 shares of company stock worth $7,640,615. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of PTC Therapeutics during the 1st quarter worth about $595,000. Allspring Global Investments Holdings LLC acquired a new position in PTC Therapeutics in the 1st quarter valued at about $524,000. Sector Gamma AS grew its stake in PTC Therapeutics by 41.4% in the 1st quarter. Sector Gamma AS now owns 92,250 shares of the biopharmaceutical company's stock valued at $4,701,000 after buying an additional 27,000 shares during the last quarter. Deutsche Bank AG grew its stake in PTC Therapeutics by 262.1% in the 1st quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company's stock valued at $17,414,000 after buying an additional 247,346 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in PTC Therapeutics in the 1st quarter valued at about $641,000.

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.

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