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

PTC Therapeutics, Inc. (NASDAQ:PTCT) gapped up before the market opened 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.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PTCT. Robert W. Baird set a $70.00 target price on PTC Therapeutics in a report on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research note on Tuesday. Barclays raised their target price on PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group upped their price target on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th. Finally, Cowen restated a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, November 5th. Ten equities research 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. According to data from MarketBeat, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $75.40.

PTC Therapeutics Price Performance

The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 12.37 and a beta of 0.60. The stock has a 50-day moving average of $68.42 and a 200 day moving average of $56.44.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate 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 company had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $177.42 million. During the same quarter in the previous year, the company earned ($1.39) EPS. PTC Therapeutics’s revenue was up 7.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Allan Steven Jacobson sold 14,199 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $83.55, for a total value of $1,186,326.45. Following the completion of the sale, the director owned 17,451 shares in the company, valued at approximately $1,458,031.05. This represents a 44.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Mark Elliott Boulding sold 2,812 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $75.99, for a total transaction of $213,683.88. Following the completion of the sale, the vice president owned 103,901 shares in the company, valued at $7,895,436.99. This represents a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 404,973 shares of company stock valued at $28,374,507 in the last three months. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

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