The chart of the day belongs to the biopharmaceutical company PTC Therapeutics (PTCT), states Jim Van Meerten of BarChart.com.
I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and a Trend Seeker buy signal. I then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 3/30 the stock gained 18.81%.
PTCT Price vs Daily Moving Averages
PTC Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical, and research and discovery stages, focusing on the development of treatments for multiple therapeutic areas, such as rare diseases.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 54.90+Weighted Alpha
- 83.01% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50, and 100-day moving averages
- Ten new highs and up 12.82% in the last month
- Relative Strength Index 66.90%
- The technical support level at $53.29
- Recently traded at $58.29 with a 50-day moving average of $50.66
Fundamental Factors:
- Market Cap $4.02 billion
- Revenue is expected to grow 37.40% this year
- Earnings are estimated to increase 36.60% this year, and an additional 20.40% next year
Analysts and Investor Sentiment: I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued three strong buy, two buy, seven hold, and one sell opinions on the stock
- Analysts' price targets are between $35 and $71
- The individual investors following the stock on Motley Fool are split voted 22 to 13 for the stock to beat the market with the more experienced investors voting 57 to six for a different result
- Value Line gives it their average rating of two
- CFRAs MarketScope gives it a hold rating
- 7,510 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option, or similar derivative position in any of the companies mentioned but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
Learn more about Jim Van Meerten at BarChart.com.
