PTC Therapeutics (NASDAQ:PTCT) Sets New 12-Month High - What's Next?

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) reached a new 52-week high during trading on Thursday . The stock traded as high as $62.77 and last traded at $62.74, with a volume of 579806 shares traded. The stock had previously closed at $60.65.

Analysts Set New Price Targets

PTCT has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $63.00 price objective (up from $60.00) on shares of PTC Therapeutics in a research note on Friday, August 8th. Robert W. Baird set a $70.00 target price on shares of PTC Therapeutics in a research note on Friday, August 8th. Morgan Stanley lowered their target price on shares of PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Wall Street Zen lowered shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Citigroup boosted their target price on shares of PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

PTC Therapeutics Price Performance

The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 8.68 and a beta of 0.53. The company's fifty day moving average price is $51.48 and its 200-day moving average price is $49.76.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted 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 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 the consensus estimate of $173.01 million. During the same quarter in the prior year, the company posted ($1.29) earnings per share. The company'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. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Eric Pauwels sold 39,850 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $56.92, for a total transaction of $2,268,262.00. Following the transaction, the insider owned 72,912 shares in the company, valued at $4,150,151.04. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 24,585 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $61.34, for a total transaction of $1,508,043.90. Following the transaction, the vice president owned 103,901 shares in the company, valued at approximately $6,373,287.34. This trade represents a 19.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,393 shares of company stock valued at $7,640,615. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently bought and sold shares of PTCT. Quantinno Capital Management LP purchased a new stake in PTC Therapeutics in the fourth quarter valued at approximately $436,000. State of Wyoming purchased a new stake in PTC Therapeutics in the fourth quarter valued at approximately $261,000. Woodline Partners LP purchased a new stake in PTC Therapeutics in the fourth quarter valued at approximately $7,037,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in PTC Therapeutics by 19.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,251 shares of the biopharmaceutical company's stock valued at $7,234,000 after buying an additional 26,274 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new stake in PTC Therapeutics in the fourth quarter valued at approximately $73,000.

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.