PTC Therapeutics (NASDAQ:PTCT) Sees Strong Trading Volume – Time to Buy?

PTC Therapeutics, Inc. (NASDAQ:PTCT) shares saw an uptick in trading volume on Tuesday . 1,801,762 shares changed hands during trading, an increase of 41% from the previous session’s volume of 1,276,599 shares.The stock last traded at $74.4020 and had previously closed at $76.77.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PTCT. Barclays reiterated an “overweight” rating and set a $120.00 price target on shares of PTC Therapeutics in a research report on Monday, February 23rd. Jefferies Financial Group upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. Bank of America reduced their price target on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Royal Bank Of Canada lifted their price target on shares of PTC Therapeutics from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.36.

PTC Therapeutics Stock Performance

The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of -31.75, a P/E/G ratio of 3.46 and a beta of 0.55. The company has a 50-day moving average of $70.72 and a 200-day moving average of $72.07.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. During the same period in the previous year, the firm posted $10.04 EPS. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. As a group, analysts expect that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current year.

Insider Activity

In related news, insider Eric Pauwels sold 21,277 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total transaction of $1,595,775.00. Following the completion of the transaction, the insider directly owned 73,411 shares in the company, valued at $5,505,825. The trade was a 22.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total value of $3,590,287.12. Following the transaction, the insider owned 60,137 shares of the company’s stock, valued at $4,151,858.48. This represents a 46.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 98,148 shares of company stock worth $7,001,475. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Defilade Capital Management L.P. acquired a new position in shares of PTC Therapeutics during the 1st quarter worth approximately $25,628,000. Segall Bryant & Hamill LLC grew its stake in PTC Therapeutics by 287.4% in the 1st quarter. Segall Bryant & Hamill LLC now owns 195,380 shares of the biopharmaceutical company’s stock worth $13,311,000 after acquiring an additional 144,949 shares during the period. Bank of America Corp DE grew its stake in PTC Therapeutics by 31.8% in the 1st quarter. Bank of America Corp DE now owns 1,886,841 shares of the biopharmaceutical company’s stock worth $128,550,000 after acquiring an additional 455,284 shares during the period. Edgestream Partners L.P. purchased a new stake in PTC Therapeutics in the 1st quarter worth approximately $566,000. Finally, Janus Henderson Group PLC grew its stake in PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after acquiring an additional 2,342,101 shares during the period.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.