In today’s recent session, 2.5 million shares of the PTC Therapeutics Inc. (NASDAQ:PTCT) have been traded, and its beta is 0.41. Most recently the company’s share price was $44.88, and it changed around -$13.53 or -23.16% from the last close, which brings the market valuation of the company to $4.32B. PTCT at last check was trading at a discount to its 52-week high of $59.84, offering almost -33.33% off that amount. The share price’s 52-week low was $25.01, which indicates that the recent value has risen by an impressive 44.27% since then. We note from PTC Therapeutics Inc.’s average daily trading volume that its 10-day average is 0.73 million shares, with the 3-month average coming to 774.04K.
PTC Therapeutics Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.50. If we narrow it down even further, the data shows that 1 out of 16 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 7 recommended PTCT as a Hold, whereas 6 deemed it a Buy, and 1 rated it as Underweight. PTC Therapeutics Inc. is expected to report earnings per share of -$1.68 for the current quarter.
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PTC Therapeutics Inc. (NASDAQ:PTCT) trade information
Instantly PTCT has been showing red trend so far today with a performance of -23.16% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 59.84 on Tuesday, 05/23/23 increased the stock’s daily price by 25.0%. The company’s shares are currently up 17.58% year-to-date, but still down -23.01% over the last five days. On the other hand, PTC Therapeutics Inc. (NASDAQ:PTCT) is -12.34% down in the 30-day period. We can see from the shorts that 5.22 million shares have been sold at a short interest cover period of 7.22 day(s).
The consensus price target as assigned by Wall Street analysts is $55.00, which translates to bulls needing to increase their stock price by 18.4% from its current value. Analyst projections state that PTCT is forecast to be at a low of $35.00 and a high of $75.00. In order for the stock price to hit the forecast high, the stock would need to plunge -67.11% from its current level, while the stock would need to crash 22.01% from its current level to reach the projected low.
PTC Therapeutics Inc. (PTCT) estimates and forecasts
PTC Therapeutics Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 12.82 percent over the past six months and at a 39.15% annual growth rate that is well above the industry average of 13.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 21.10% in revenue this quarter, and will report an increase of 15.70% in the next quarter. The year-over-year growth rate is expected to be 37.60%, up from the previous year.
Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $204.46 million in revenue for the current quarter. 13 analysts expect PTC Therapeutics Inc. to make $221.57 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $165.53 million and $186.9 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 23.50%. Forecasts for the next quarter put sales growth at 18.60%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -31.10%. PTC Therapeutics Inc. earnings are expected to increase by -4.80% in 2023, but the outlook is negative -9.51% per year for the next five years.
PTC Therapeutics Inc.’s next quarterly earnings report is expected to be released around August 02 and August 07.
PTC Therapeutics Inc. (NASDAQ:PTCT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.61% of PTC Therapeutics Inc. shares, and 106.45% of them are in the hands of institutional investors. The stock currently has a share float of 109.30%. PTC Therapeutics Inc. stock is held by 313 institutions, with FMR, LLC being the largest institutional investor. By Mar 30, 2023, it held 8.10% of the shares, which is about 9.58 million shares worth $430.14 million.
Vanguard Group, Inc. (The), with 6.42% or 7.59 million shares worth $340.58 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 2.18 million shares worth $97.94 million, making up 2.96% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 1.85 million shares worth around $83.12 million, which represents about 2.51% of the total shares outstanding.