PTC Therapeutics (NASDAQ:PTCT) Reaches New 12-Month Low – Time to Sell?

PTC Therapeutics, Inc. (NASDAQ:PTCT)’s share price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $60.76 and last traded at $60.9350, with a volume of 74,623 shares changing hands. The stock had previously closed at $62.92.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several research reports. Leerink Partners assumed coverage on shares of PTC Therapeutics in a research note on Monday, September 14th. They issued an “outperform” rating and a $98.00 price objective for the company. Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company boosted their target price on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Royal Bank Of Canada decreased their target price on shares of PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 7th. Finally, Cantor Fitzgerald upped their price target on shares of PTC Therapeutics from $130.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.25.

PTC Therapeutics Stock Down 3.6%

The stock has a 50 day moving average price of $68.26 and a 200 day moving average price of $71.95. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of -104.64, a price-to-earnings-growth ratio of 1.95 and a beta of 0.49.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. During the same quarter last year, the firm posted ($0.83) earnings per share. The business’s revenue for the quarter was up 101.5% on a year-over-year basis. Sell-side analysts forecast that PTC Therapeutics, Inc. will post 1.19 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, Director Glenn Steele, Jr. sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $65.16, for a total transaction of $781,920.00. Following the sale, the director directly owned 22,500 shares of the company’s stock, valued at $1,466,100. The trade was a 34.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Boulding sold 435 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $64.16, for a total transaction of $27,909.60. Following the completion of the transaction, the vice president owned 105,272 shares of the company’s stock, valued at approximately $6,754,251.52. This trade represents a 0.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 74,678 shares of company stock valued at $5,160,898 in the last quarter. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC raised its position in PTC Therapeutics by 48.7% during the 3rd quarter. Avior Wealth Management LLC now owns 5,622 shares of the biopharmaceutical company’s stock worth $364,000 after purchasing an additional 1,842 shares during the last quarter. Sacks & Associates LLC acquired a new position in PTC Therapeutics during the 3rd quarter worth about $251,000. Private Capital Advisors Inc. bought a new stake in shares of PTC Therapeutics in the 3rd quarter valued at about $458,000. Envestnet Portfolio Solutions Inc. grew its position in shares of PTC Therapeutics by 1.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,730 shares of the biopharmaceutical company’s stock valued at $1,120,000 after buying an additional 237 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of PTC Therapeutics in the 2nd quarter valued at about $211,000.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.