PTC Therapeutics (NASDAQ:PTCT) Stock Price Up 6.1% - Should You 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) rose 6.1% during mid-day trading on Tuesday . The company traded as high as $52.00 and last traded at $52.32. Approximately 101,259 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,073,043 shares. The stock had previously closed at $49.33.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Robert W. Baird set a $70.00 target price on shares of PTC Therapeutics in a research report on Friday, August 8th. Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 target price (up previously from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. UBS Group boosted their target price on shares of PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Bank of America dropped their target price on shares of PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Finally, Wall Street Zen downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $69.15.

PTC Therapeutics Stock Performance

The stock has a market cap of $4.15 billion, a P/E ratio of 7.50 and a beta of 0.53. The company's 50 day moving average price is $48.73 and its 200-day moving average price is $49.02.

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

Insider Activity

In related news, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total transaction of $124,441.36. Following the completion of the transaction, the chief financial officer owned 71,920 shares in the company, valued at approximately $3,557,163.20. This represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $555,635.86. Following the transaction, the chief executive officer owned 337,767 shares of the company's stock, valued at $17,476,064.58. This represents a 3.08% decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PTC Therapeutics by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock worth $2,967,000 after buying an additional 205 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of PTC Therapeutics by 3.0% in the second quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company's stock worth $388,000 after buying an additional 231 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of PTC Therapeutics by 42.1% in the second quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 295 shares in the last quarter. Xponance Inc. lifted its holdings in shares of PTC Therapeutics by 5.2% in the first quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock worth $325,000 after buying an additional 314 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of PTC Therapeutics by 2.0% in the first quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock worth $874,000 after buying an additional 329 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.

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