PTC Therapeutics (NASDAQ:PTCT) Trading 7.6% Higher - Time to 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.

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) shot up 7.6% on Tuesday . The stock traded as high as $52.21 and last traded at $53.58. 783,471 shares changed hands during 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 brokerages recently weighed in on PTCT. Morgan Stanley dropped their price objective on PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a research report on Wednesday. Truist Financial increased their target price on PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Barclays increased their target price on PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $63.00 target price (up from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $69.15.

PTC Therapeutics Price Performance

The company has a market capitalization of $4.02 billion, a P/E ratio of 7.26 and a beta of 0.54. The stock has a 50-day moving average price of $48.86 and a 200-day moving average price of $49.04.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $178.88 million during the quarter, compared to the consensus estimate of $173.01 million. During the same period last year, the company earned ($1.29) earnings per share. The firm's revenue was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 71,920 shares in the company, valued at approximately $3,557,163.20. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew B. Klein sold 10,739 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $555,635.86. Following the completion of the sale, the chief executive officer owned 337,767 shares of the company's stock, valued at approximately $17,476,064.58. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its holdings in PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 522 shares in the last quarter. Quantbot Technologies LP increased its holdings in PTC Therapeutics by 545.5% in the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 551 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in PTC Therapeutics by 84.2% in the first 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 in the last quarter. GAMMA Investing LLC increased its holdings in PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 441 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in PTC Therapeutics by 247.4% in the second 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 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.