In the last trading session, 0.81 million shares of the PTC Therapeutics Inc (NASDAQ:PTCT) were traded, and its beta was 0.66. Most recently the company’s share price was $29.09, and it changed around -$0.35 or -1.19% from the last close, which brings the market valuation of the company to $2.23B. PTCT currently trades at a discount to its 52-week high of $59.84, offering almost -105.71% off that amount. The share price’s 52-week low was $17.53, which indicates that the current value has risen by an impressive 39.74% since then. We note from PTC Therapeutics Inc’s average daily trading volume that its 10-day average is 0.65 million shares, with the 3-month average coming to 999.29K.
PTC Therapeutics Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.93. If we narrow it down even further, the data shows that 4 out of 15 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 5 recommended PTCT as a Hold, whereas 3 deemed it a Buy, and 1 rated it as Underweight. PTC Therapeutics Inc is expected to report earnings per share of -$1.25 for the current quarter.
PTC Therapeutics Inc (NASDAQ:PTCT) trade information
Instantly PTCT has showed a red trend with a performance of -1.19% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 5.55% year-to-date, but still down -3.58% over the last five days. On the other hand, PTC Therapeutics Inc (NASDAQ:PTCT) is 3.16% up in the 30-day period. We can see from the shorts that 10.89 million shares have been sold at a short interest cover period of 11.28 day(s).
The consensus price target as assigned by Wall Street analysts is $47.25, which translates to bulls needing to increase their stock price by 38.43% from its current value. Analyst projections state that PTCT is forecast to be at a low of $35 and a high of $63.
PTC Therapeutics Inc (PTCT) estimates and forecasts
PTC Therapeutics Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 25.01 percent over the past six months and at a -64.36% annual growth rate that is well below the industry average of 8.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 33.50% in revenue this quarter, and will report an increase of 42.10% in the next quarter. The year-over-year growth rate is expected to be -35.30%, down from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $170.36 million in revenue for the current quarter. 10 analysts expect PTC Therapeutics Inc to make $149.01 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $220.38 million and $213.81 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -22.70%. Forecasts for the next quarter put sales growth at -30.30%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -24.94%. PTC Therapeutics Inc earnings are expected to increase by 26.07% in 2024, but the outlook is negative -9.51% per year for the next five years.
PTCT Dividends
PTC Therapeutics Inc’s next quarterly earnings report is expected to be released around April 25 and April 29.
PTC Therapeutics Inc (NASDAQ:PTCT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.83% of PTC Therapeutics Inc shares, and 112.79% of them are in the hands of institutional investors. The stock currently has a share float of 116.07%. PTC Therapeutics Inc stock is held by 273 institutions, with Wellington Management Group, LLP being the largest institutional investor. By Dec 30, 2023, it held 12.81% of the shares, which is about 9.82 million shares worth $285.56 million.
Vanguard Group Inc, with 11.49% or 8.8 million shares worth $256.02 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Specialized-Health Care Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 2.97 million shares worth $86.38 million, making up 3.88% of all outstanding shares. On the other hand, Vanguard Specialized-Health Care Fund held roughly 2.75 million shares worth around $79.97 million, which represents about 3.59% of the total shares outstanding.
