PTC Therapeutics (NASDAQ:PTCT) Sets New 52-Week High – Here’s What Happened

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) hit a new 52-week high on Monday . The stock traded as high as $80.63 and last traded at $80.9250, with a volume of 110557 shares trading hands. The stock had previously closed at $78.47.

Analyst Upgrades and Downgrades

PTCT has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 target price on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Truist Financial lifted 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. Morgan Stanley cut their price target on PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Finally, Jefferies Financial Group raised their price objective on PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $75.40.

PTC Therapeutics Trading Up 3.9%

The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 11.90 and a beta of 0.60. The company has a 50-day moving average of $67.91 and a 200-day moving average of $56.23.

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

Insider Buying and Selling at PTC Therapeutics

In other news, insider Neil Gregory Almstead sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $66.05, for a total transaction of $3,632,750.00. Following the completion of the transaction, the insider directly owned 100,625 shares of the company’s stock, valued at approximately $6,646,281.25. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Elliott Boulding sold 2,812 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $75.99, for a total value of $213,683.88. Following the sale, the vice president owned 103,901 shares in the company, valued at $7,895,436.99. The trade was a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 274,807 shares of company stock worth $17,555,813 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PTCT. Smartleaf Asset Management LLC lifted its stake in PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 236 shares during the last quarter. Optiver Holding B.V. increased its holdings in shares of PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 249 shares during the period. Comerica Bank lifted its position in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 469 shares during the last quarter. Quantbot Technologies LP lifted its position in PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 551 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 320 shares during the period.

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.