PTC Therapeutics (NASDAQ:PTCT) Reaches New 1-Year High - Time to Buy?

Key Points

• PTC Therapeutics reached a new 52-week high, trading at $62.77 with a significant volume of 579,806 shares exchanged, representing a notable increase from a previous close of $60.65.
• Analysts have varied opinions on the stock, with a consensus rating of "Moderate Buy" and an average price target set at $69.00, indicating potential for growth based on recent financial performance.
• Insider trading activity shows a 35.34% decrease in ownership by Eric Pauwels after selling 39,850 shares, and overall 131,393 shares valued at over $7.6 million were sold by insiders in the last 90 days.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report)'s stock price hit a new 52-week high on Thursday . The stock traded as high as $62.77 and last traded at $62.74, with a volume of 579806 shares changing hands. The stock had previously closed at $60.65.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of analyst reports. Barclays boosted their price objective on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Wells Fargo & Company reduced their price target on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Bank of America cut their price target on shares of PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Morgan Stanley reduced their price objective on PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Robert W. Baird set a $70.00 price objective on PTC Therapeutics in a research report on Friday, August 8th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

PTC Therapeutics Trading Up 0.6%

The stock has a fifty day simple moving average of $51.70 and a 200-day simple moving average of $49.79. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 7.98 and a beta of 0.53.

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

Insider Buying and Selling

In related news, insider Eric Pauwels sold 39,850 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $56.92, for a total transaction of $2,268,262.00. Following the sale, the insider owned 72,912 shares in the company, valued at $4,150,151.04. The trade was a 35.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David P. Southwell sold 12,000 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $58.34, for a total value of $700,080.00. Following the completion of the transaction, the director directly 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. In the last 90 days, insiders have sold 131,393 shares of company stock worth $7,640,615. 5.50% of the stock is owned by company insiders.

Institutional Trading of PTC Therapeutics

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in shares of PTC Therapeutics by 13.2% in the 1st quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company's stock worth $276,161,000 after purchasing an additional 632,049 shares in the last quarter. Toronto Dominion Bank purchased a new stake in PTC Therapeutics during the 4th quarter valued at approximately $148,363,000. State Street Corp raised its holdings in PTC Therapeutics by 22.1% during the 2nd quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company's stock valued at $146,347,000 after buying an additional 541,558 shares during the period. Geode Capital Management LLC boosted its holdings in PTC Therapeutics by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,934,593 shares of the biopharmaceutical company's stock valued at $94,497,000 after acquiring an additional 60,707 shares during the period. Finally, Driehaus Capital Management LLC grew its stake in PTC Therapeutics by 45.3% in the first quarter. Driehaus Capital Management LLC now owns 1,512,645 shares of the biopharmaceutical company's stock worth $77,084,000 after purchasing an additional 471,586 shares in the last quarter.

About PTC Therapeutics

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.