PTC Therapeutics Inc (NASDAQ: PTCT) stock jumped 2.30% on Friday to $20.46 against a previous-day closing price of $20.00. With 0.78 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.39 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $20.56 whereas the lowest price it dropped to was $19.80. The 52-week range on PTCT shows that it touched its highest point at $59.84 and its lowest point at $17.53 during that stretch. It currently has a 1-year price target of $28.08. Beta for the stock currently stands at 0.49.
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 up-trending over the past week, with a rise of 10.36%, but this was down by -13.19% over a month. Three-month performance dropped to -48.59% while six-month performance fell -64.95%. The stock lost -45.28% in the past year, while it has lost -46.40% so far this year. A look at the trailing 12-month EPS for PTCT yields -8.66 with Next year EPS estimates of -5.10. For the next quarter, that number is 0.54. This implies an EPS growth rate of 25.94% for this year and 11.65% 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 -31.05%.
Float and Shares Shorts:
At present, 73.10 million PTCT shares are outstanding with a float of 72.90 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.38 million, which was 9.78% higher than short shares on Sep 28, 2023. In addition to Dr. Matthew B. Klein F.A.C.S., M.D., M.S. as the firm’s CEO & Director, Dr. Stuart W. Peltz Ph.D. serves as its Co-Founder, Senior Consultant & Member of Scientific Advisory Board.
Institutional Ownership:
Through their ownership of 107.84% of PTCT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.27% of PTCT, in contrast to 54.00% held by mutual funds. Shares owned by individuals account for 12.08%. As the largest shareholder in PTCT with 12.50% of the stake, Wellington Management Co. LLP holds 9,436,188 shares worth 9,436,188. A second-largest stockholder of PTCT, The Vanguard Group, Inc., holds 7,757,390 shares, controlling over 10.28% of the firm’s shares. RTW Investments LP is the third largest shareholder in PTCT, holding 7,235,196 shares or 9.59% stake. With a 3.13% stake in PTCT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,365,127 shares are owned by the mutual fund manager. The Hartford Mid Cap Fund, which owns about 2.76% of PTCT stock, is the second-largest Mutual Fund holder. It holds 2,084,875 shares valued at 39.09 million. Vanguard Small Cap Index Fund holds 2.57% of the stake in PTCT, owning 1,942,797 shares worth 36.43 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PTCT since 0 analysts follow the stock currently. 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 $51.00 and a low target of $17.00, the average target price over the next 12 months is $28.08. Based on these targets, PTCT could surge 149.27% to reach the target high and fall by -16.91% to reach the target low. Reaching the average price target will result in a growth of 37.24% from current levels.
Summary of Insider Activity:
Insiders traded PTCT stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 11,666 shares were bought while 11,666 shares were sold. The number of buy transactions has increased to 41 while that of sell transactions has risen to 81 over the past year. The total number of shares bought during that period was 447,938 while 224,316 shares were sold.
