PTC Therapeutics (NASDAQ:PTCT) Trading Up 8.4%

PTC Therapeutics, Inc. (NASDAQ:PTCT) traded up 8.4% during mid-day trading on Monday . The stock traded as high as $22.17 and last traded at $22.17. 391,851 shares were traded during trading, a decline of 59% from the average session volume of 957,332 shares. The stock had previously closed at $20.46.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com assumed coverage on PTC Therapeutics in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Truist Financial lowered PTC Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $45.00 to $25.00 in a research note on Thursday, October 5th. Raymond James downgraded shares of PTC Therapeutics from an “outperform” rating to an “underperform” rating in a research report on Friday, September 15th. The Goldman Sachs Group reduced their price target on shares of PTC Therapeutics from $35.00 to $22.00 and set a “sell” rating on the stock in a research report on Monday, September 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $51.00 price objective on shares of PTC Therapeutics in a research report on Monday. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $34.85.

PTC Therapeutics Stock Performance

The company has a market capitalization of $1.67 billion, a PE ratio of -2.52 and a beta of 0.47. The company has a 50 day moving average price of $22.88 and a 200 day moving average price of $36.17.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.91). The business had revenue of $196.60 million for the quarter, compared to the consensus estimate of $210.23 million. PTC Therapeutics’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.53) earnings per share. On average, equities analysts forecast that PTC Therapeutics, Inc. will post -6.02 earnings per share for the current fiscal year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Alethia Young sold 11,666 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $39.86, for a total transaction of $465,006.76. Following the transaction, the director now owns 9,067 shares of the company’s stock, valued at approximately $361,410.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PTCT. Ameritas Investment Partners Inc. boosted its stake in PTC Therapeutics by 3.6% in the first quarter. Ameritas Investment Partners Inc. now owns 5,642 shares of the biopharmaceutical company’s stock valued at $273,000 after acquiring an additional 196 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of PTC Therapeutics by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 15,316 shares of the biopharmaceutical company’s stock valued at $742,000 after buying an additional 255 shares during the last quarter. Ellsworth Advisors LLC boosted its position in shares of PTC Therapeutics by 3.8% during the second quarter. Ellsworth Advisors LLC now owns 7,290 shares of the biopharmaceutical company’s stock worth $296,000 after buying an additional 266 shares during the period. Vise Technologies Inc. grew its holdings in PTC Therapeutics by 5.5% in the 1st quarter. Vise Technologies Inc. now owns 8,522 shares of the biopharmaceutical company’s stock worth $413,000 after buying an additional 444 shares in the last quarter. Finally, Engineers Gate Manager LP raised its stake in PTC Therapeutics by 4.9% during the 4th quarter. Engineers Gate Manager LP now owns 9,864 shares of the biopharmaceutical company’s stock valued at $377,000 after acquiring an additional 458 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. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.