Wellington Management Co. LLP recently announced the acquisition of new stake in PTC Therapeutics Inc. (NASDAQ:PTCT). The institutional investor has increased its shareholding in the Healthcare company by 28.62% to 8.02 million shares with purchase of 1.79 million shares. This fresh investment now brings its stake to 12.76% valued currently at $371.74 million. In addition, The Vanguard Group, Inc. raised its holdings by 78150.0 to 5.48 million shares. And Fidelity Management & Research Co.. has lifted its position by 38.42% or 1.42 million shares – to 5.13 million shares.
With over 1.05 million PTC Therapeutics Inc. (PTCT) shares trading Tuesday and a closing price of $50.01 on the day, the dollar volume was approximately $52.53 million. The shares have shown a positive weekly performance of 1.79% and its price on 08/25/20 gained nearly 4.10%. Currently, there are 65.15M common shares owned by the public and among those 62.07M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for PTCT have a consensus price objective of $60.30. The analysts have set the share’s price value over the next 12 months at a high of $86.00 and a low of $46.00 should the stock experience a downside. Incidentally, analysts’ outlook for the PTC Therapeutics Inc. stock is 2.10 for the next 12 months. The average price target is 16.65% above its last price level and an upside to the estimated low will see the stock lose -8.72% over that period. But an upside of 41.85% will see the stock hit the forecast high price target while mean target price for the stock is $56.50.
Insiders at the company have transacted a total of 127 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 49 of these insider trades were purchases, accounting for 604,507 shares. Insider sales of the common stock occurred on 78 occasions, with total insider shares sold totaling 511,139 shares.
The top 3 mutual fund holders in PTC Therapeutics Inc. are Hartford Mid Cap Fund, Fidelity Select Port. – Biotechno, and Vanguard Total Stock Market Index. Hartford Mid Cap Fund owns 3.47 million shares of the company’s stock, all valued at over $160.58 million. The company bought an additional 26807.0 shares recently to bring their total holdings to about 5.51% of the shares outstanding. Fidelity Select Port. – Biotechno bought 0.19 million shares to see its total holdings expand to 1.96 million shares valued at over $90.92 million and representing 3.12% of the shares outstanding. Vanguard Total Stock Market Index sold 16920.0 shares to bring its total holdings to over 1.71 million shares at a value of $79.05 million. Vanguard Total Stock Market Index now owns shares totaling to 2.71% of the shares outstanding.
Shares of PTC Therapeutics Inc. (NASDAQ: PTCT) opened at $48.86, up $0.82 from a prior closing price of $48.04. However, the script later closed the day at $50.01, up 4.10%. The company’s stock has a 5-day price change of 1.79% and 0.77% over the past three months. PTCT shares are trading 4.12% year to date (YTD), with the 12-month market performance up to 12.86% higher. It has a 12-month low price of $30.79 and touched a high of $59.89 over the same period. Currently, 1.05 million shares have been traded, compared to an average intraday trading volume of 790.22K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.72%, -1.30%, and 1.53% respectively.
Institutional ownership of PTC Therapeutics Inc. (NASDAQ: PTCT) shares accounts for 99.32% of the company’s 65.15M shares outstanding. Mutual fund holders own 41.83%, while other institutional holders and individual stakeholders account for 68.17% and 13.56% respectively.
It has a market capitalization of $3.38B and a beta (3y monthly) value of 1.18. The earnings-per-share (ttm) stands at -$6.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.13% over the week and 3.95% over the month.
Analysts forecast that PTC Therapeutics Inc. (PTCT) will achieve an EPS of -$0.93 for the current quarter, -$0.98 for the next quarter and -$3.26 for 2021. The lowest estimate earnings-per-share for the quarter is -$2.12 while analysts give the company a high EPS estimate of -$0.39. Comparatively, EPS for the current quarter was -$1.06 a year ago. Earnings per share for the fiscal year are expected to decrease by -55.40%, and 50.10% over the next financial year. EPS should shrink at an annualized rate of -9.51% over the next five years, compared to -7.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate PTC Therapeutics Inc. (PTCT) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 4 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PTCT, a number of firms have released research notes about the stock. Raymond James stated their Outperform rating for the stock in a research note on August 25, 2020, with the firm’s price target at $63. Citigroup coverage for the PTC Therapeutics Inc. (PTCT) stock in a research note released on April 09, 2020 offered a Buy rating with a price target of $67. RBC Capital Mkts was of a view on February 20, 2020 that the stock is Sector Perform, while Citigroup gave the stock Neutral rating on February 20, 2020, issuing a price target of $55- $71. SunTrust on their part issued Buy rating on November 12, 2019.