PTC Therapeutics Inc. (NASDAQ: PTCT) stock fell -0.08% on Tuesday to $47.28 against a previous-day closing price of $47.32. With 0.8 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.68 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $48.08 whereas the lowest price it dropped to was $46.44. The 52-week range on PTCT shows that it touched its highest point at $55.58 and its lowest point at $25.01 during that stretch. It currently has a 1-year price target of $50.14. Beta for the stock currently stands at 0.36.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PTCT was down-trending over the past week, with a drop of -1.05%, but this was up by 24.88% over a month. Three-month performance surged to 1.39% while six-month performance rose 9.32%. The stock gained 21.79% in the past year, while it has gained 23.87% so far this year. A look at the trailing 12-month EPS for PTCT yields -7.46 with Next year EPS estimates of -4.33. For the next quarter, that number is -1.49. This implies an EPS growth rate of -12.00% for this year and 37.10% for next year. EPS is expected to decline by -9.51% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -12.20%.
Float and Shares Shorts:
At present, 71.66 million PTCT shares are outstanding with a float of 70.11 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.72 million, which was 6.60% higher than short shares on Sep 14, 2022. In addition to Dr. Stuart W. Peltz Ph.D. as the firm’s Co-Founder, CEO & Exec. Director, Dr. Allan Steven Jacobson Ph.D. serves as its Co-Founder, Chairman of Scientific Advisory Board & Independent Director.
Through their ownership of 106.12% of PTCT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 61.21% of PTCT, in contrast to 45.05% held by mutual funds. Shares owned by individuals account for 12.65%. As the largest shareholder in PTCT with 13.27% of the stake, Fidelity Management & Research Co holds 9,534,802 shares worth 9,534,802. A second-largest stockholder of PTCT, Wellington Management Co. LLP, holds 7,491,062 shares, controlling over 10.42% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in PTCT, holding 7,046,005 shares or 9.80% stake. With a 3.16% stake in PTCT, the Fidelity Select Port. – Biotechno is the largest stakeholder. A total of 2,267,944 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 3.04% of PTCT stock, is the second-largest Mutual Fund holder. It holds 2,182,071 shares valued at 83.29 million. SPDR S&P Biotech ETF holds 2.89% of the stake in PTCT, owning 2,075,358 shares worth 79.22 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PTCT since 15 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PTCT analysts setting a high price target of $68.00 and a low target of $35.00, the average target price over the next 12 months is $50.14. Based on these targets, PTCT could surge 43.82% to reach the target high and fall by -25.97% to reach the target low. Reaching the average price target will result in a growth of 6.05% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PTCT will report FY 2022 earnings on 02/21/2024. Analysts have provided yearly estimates in a range of -$5.59 being high and -$7.75 being low. For PTCT, this leads to a yearly average estimate of -$6.90. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. PTC Therapeutics Inc. surprised analysts by -$0.25 when it reported -$1.53 EPS against a consensus estimate of -$1.28. The surprise factor in the prior quarter was -$0.76. Based on analyst estimates, the high estimate for the next quarter is -$0.22 and the low estimate is -$2.32. The average estimate for the next quarter is thus -$1.53.
Summary of Insider Activity:
Insiders traded PTCT stock several times over the past three months with 18 Buys and 0 Sells. In these transactions, 223,210 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 30 over the past year. The total number of shares bought during that period was 256,570 while 47,982 shares were sold.