PTC Therapeutics (NASDAQ:PTCT) Trading 6.1% Higher - Still a Buy?

Key Points

• PTC Therapeutics' stock price rose by 6.1%, reaching a high of $52.32, although trading volume decreased significantly by 91% compared to the average.
• Wall Street analysts have mixed ratings on the stock, with an average consensus price target of $69.15, indicating potential for growth despite a recent downgrade from "strong-buy" to "hold" by some analysts.
• The company reported earnings of ($0.83) per share, beating estimates, with revenues of $178.88 million, despite a year-over-year decline of 4.2% in revenue.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report)'s share price traded up 6.1% on Tuesday . The company traded as high as $52.00 and last traded at $52.32. 101,259 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,073,043 shares. The stock had previously closed at $49.33.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of research analyst reports. Citigroup raised their target price on PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen lowered PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Cantor Fitzgerald restated an "overweight" rating and issued a $118.00 target price on shares of PTC Therapeutics in a research note on Wednesday. Wells Fargo & Company reduced their target price on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Bank of America reduced their target price on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, PTC Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

PTC Therapeutics Stock Performance

The stock has a 50 day simple moving average of $49.24 and a two-hundred day simple moving average of $49.18. The firm has a market cap of $4.55 billion, a PE ratio of 8.22 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share 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 analyst estimates of $173.01 million. During the same quarter in the previous year, the business earned ($1.29) EPS. PTC Therapeutics'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. Equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Insider Activity at PTC Therapeutics

In related news, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the transaction, the chief financial officer owned 71,920 shares in the company, valued at $3,557,163.20. The trade was a 3.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew B. Klein sold 10,739 shares of PTC Therapeutics stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $555,635.86. Following the completion of the transaction, the chief executive officer owned 337,767 shares of the company's stock, valued at approximately $17,476,064.58. This represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,589 shares of company stock worth $847,277 in the last 90 days. Corporate insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC increased its stake in shares of PTC Therapeutics by 1,603.8% in the 2nd quarter. Squarepoint Ops LLC now owns 181,978 shares of the biopharmaceutical company's stock valued at $8,888,000 after purchasing an additional 171,297 shares in the last quarter. Headlands Technologies LLC purchased a new stake in PTC Therapeutics during the 2nd quarter worth approximately $453,000. CANADA LIFE ASSURANCE Co increased its stake in PTC Therapeutics by 8.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 21,793 shares of the biopharmaceutical company's stock worth $1,065,000 after buying an additional 1,755 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in PTC Therapeutics by 331.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,309 shares of the biopharmaceutical company's stock worth $357,000 after buying an additional 5,615 shares in the last quarter. Finally, LGL Partners LLC increased its stake in PTC Therapeutics by 33.3% during the 2nd quarter. LGL Partners LLC now owns 16,000 shares of the biopharmaceutical company's stock worth $806,000 after buying an additional 4,000 shares in the last quarter.

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.