PTC Therapeutics (NASDAQ:PTCT) Shares Gap Up – Time to Buy?

PTC Therapeutics, Inc. (NASDAQ:PTCT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $79.83, but opened at $84.69. PTC Therapeutics shares last traded at $83.0390, with a volume of 608,305 shares traded.

Wall Street Analyst Weigh In

PTCT has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Wall Street Zen raised PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Jefferies Financial Group boosted their price objective on PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Royal Bank Of Canada upped their price objective on shares of PTC Therapeutics from $70.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Finally, Morgan Stanley dropped their target price on shares of PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.40.

PTC Therapeutics Price Performance

The company has a 50 day simple moving average of $67.44 and a 200-day simple moving average of $55.96. The firm has a market cap of $6.67 billion, a PE ratio of 11.97 and a beta of 0.60.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.19) by $1.39. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The firm had revenue of $211.01 million during the quarter, compared to analyst estimates of $177.42 million. During the same period in the previous year, the business posted ($1.39) EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In other news, Director Allan Steven Jacobson sold 12,000 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $65.00, for a total transaction of $780,000.00. Following the transaction, the director directly owned 17,451 shares of the company’s stock, valued at approximately $1,134,315. This trade represents a 40.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emma Reeve sold 7,333 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $74.50, for a total value of $546,308.50. Following the sale, the director owned 6,666 shares of the company’s stock, valued at $496,617. This represents a 52.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 264,807 shares of company stock valued at $16,760,813. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PTCT. CIBC Bancorp USA Inc. purchased a new stake in PTC Therapeutics in the 3rd quarter worth approximately $508,000. Danske Bank A S purchased a new stake in PTC Therapeutics in the third quarter worth $1,152,000. CANADA LIFE ASSURANCE Co boosted its holdings in PTC Therapeutics by 55.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 33,984 shares of the biopharmaceutical company’s stock valued at $2,060,000 after acquiring an additional 12,191 shares in the last quarter. Woodline Partners LP purchased a new position in PTC Therapeutics during the 3rd quarter valued at $6,481,000. Finally, Qube Research & Technologies Ltd increased its position in PTC Therapeutics by 27.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 430,934 shares of the biopharmaceutical company’s stock valued at $26,446,000 after purchasing an additional 92,771 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.