PTC Therapeutics (NASDAQ:PTCT) Sets New 1-Year High - Here's Why

Key Points

• PTC Therapeutics reached a new **52-week high** at $59.00, closing at $58.33 with a trading volume of **917,296 shares**.
• Analysts have given PTC Therapeutics a consensus rating of **"Moderate Buy"**, with a target price of **$69.00**, amidst several price target adjustments by major brokerages.
• The company reported earnings of **($0.83) EPS**, beating estimates, with quarterly revenue at **$178.88 million**, despite a year-over-year decline of **4.2%**.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.00 and last traded at $58.33, with a volume of 917296 shares. The stock had previously closed at $58.42.

Analyst Ratings Changes

A number of brokerages have weighed in on PTCT. Royal Bank Of Canada reissued an "outperform" rating and issued a $63.00 price target (up from $60.00) on shares of PTC Therapeutics in a report on Friday, August 8th. Cowen reissued a "hold" rating on shares of PTC Therapeutics in a report on Friday, August 8th. Wells Fargo & Company reduced their price target on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Citigroup increased their price target on shares of PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, UBS Group increased their price target on shares of PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

PTC Therapeutics Stock Performance

The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 8.37 and a beta of 0.53. The business's 50-day moving average is $49.78 and its 200-day moving average is $49.34.

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

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, insider Eric Pauwels sold 39,850 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $56.92, for a total value of $2,268,262.00. Following the completion of the sale, the insider owned 72,912 shares in the company, valued at approximately $4,150,151.04. This trade represents a 35.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Allan Steven Jacobson sold 1,667 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $50.15, for a total transaction of $83,600.05. Following the completion of the sale, the director owned 17,451 shares of the company's stock, valued at $875,167.65. The trade was a 8.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,439 shares of company stock worth $3,115,539. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of PTC Therapeutics by 0.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock valued at $2,967,000 after purchasing an additional 205 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of PTC Therapeutics by 3.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company's stock valued at $388,000 after purchasing an additional 231 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of PTC Therapeutics by 42.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 295 shares during the last quarter. Xponance Inc. boosted its stake in shares of PTC Therapeutics by 5.2% in the 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock valued at $325,000 after purchasing an additional 314 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in shares of PTC Therapeutics by 2.0% in the 1st quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock valued at $874,000 after purchasing an additional 329 shares during the period.

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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