PTC Therapeutics (NASDAQ:PTCT) Trading Up 7.6% - Should You Buy?

Key Points

• PTC Therapeutics' stock price increased by 7.6% to $53.58 amid a trading volume decline of 27% from its average.
• Analysts have varying ratings for the stock, with a consensus rating of "Moderate Buy" and an average price target of $70.15.
• The company reported a quarterly revenue of $178.88 million, exceeding analyst estimates and showcasing a 4.2% year-over-year decline in revenue.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) shot up 7.6% during trading on Tuesday . The stock traded as high as $52.21 and last traded at $53.58. 783,471 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 1,073,662 shares. The stock had previously closed at $49.80.

Wall Street Analyst Weigh In

Several research firms have recently commented on PTCT. Robert W. Baird set a $70.00 price objective on PTC Therapeutics in a research note 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. Wells Fargo & Company cut their target price on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. cut their target price on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, Truist Financial increased their target price on PTC Therapeutics from $80.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.15.

PTC Therapeutics Stock Performance

The firm has a market cap of $4.02 billion, a PE ratio of 7.26 and a beta of 0.54. The firm has a fifty day simple moving average of $48.86 and a two-hundred day simple moving average of $49.03.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released 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. The business had revenue of $178.88 million during the quarter, compared to analysts' expectations of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the business posted ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. Equities analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,739 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $555,635.86. Following the completion of the transaction, the chief executive officer owned 337,767 shares in the company, valued at $17,476,064.58. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Pierre Gravier sold 2,516 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total value of $124,441.36. Following the transaction, the chief financial officer owned 71,920 shares of the company's stock, valued at $3,557,163.20. This represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC boosted its holdings in shares of PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 522 shares during the period. Quantbot Technologies LP boosted its holdings in shares of PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 551 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after purchasing an additional 320 shares during the period. GAMMA Investing LLC boosted its holdings in shares of PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 441 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock worth $56,000 after purchasing an additional 814 shares during the period.

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.