PTC Therapeutics, Inc. (NASDAQ:PTCT) Expected to Announce Quarterly Sales of $119.35 Million

Equities analysts expect that PTC Therapeutics, Inc. (NASDAQ:PTCT) will post sales of $119.35 million for the current quarter, according to Zacks. Three analysts have issued estimates for PTC Therapeutics’ earnings. The highest sales estimate is $130.50 million and the lowest is $111.20 million. PTC Therapeutics posted sales of $118.40 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The firm is expected to report its next earnings report after the market closes on Thursday, October 28th.

According to Zacks, analysts expect that PTC Therapeutics will report full year sales of $499.13 million for the current year, with estimates ranging from $453.92 million to $530.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $742.26 million, with estimates ranging from $596.35 million to $857.00 million. Zacks’ sales averages are an average based on a survey of analysts that cover PTC Therapeutics.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, July 29th. The biopharmaceutical company reported ($1.68) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.84) by $0.16. PTC Therapeutics had a negative net margin of 82.87% and a negative return on equity of 105.54%. The company had revenue of $116.68 million during the quarter, compared to analyst estimates of $105.65 million.

PTCT has been the topic of several research analyst reports. Bank of America cut shares of PTC Therapeutics from a “neutral” rating to an “underperform” rating and set a $38.00 target price on the stock. in a research note on Monday, October 18th. Credit Suisse Group lowered their target price on shares of PTC Therapeutics from $54.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, July 30th. Zacks Investment Research cut shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, September 29th. Finally, UBS Group lowered their price objective on shares of PTC Therapeutics from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $59.20.

In related news, Director Stephanie Okey sold 1,650 shares of the firm’s stock in a transaction on Friday, August 13th. The stock was sold at an average price of $40.06, for a total value of $66,099.00. Following the transaction, the director now owns 963 shares in the company, valued at $38,577.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in PTC Therapeutics by 21.9% in the first quarter. Teacher Retirement System of Texas now owns 6,948 shares of the biopharmaceutical company’s stock worth $329,000 after purchasing an additional 1,246 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in shares of PTC Therapeutics during the 1st quarter valued at about $112,000. Prudential Financial Inc. increased its position in shares of PTC Therapeutics by 11.2% during the 1st quarter. Prudential Financial Inc. now owns 227,729 shares of the biopharmaceutical company’s stock valued at $10,782,000 after purchasing an additional 22,846 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PTC Therapeutics by 10.1% during the 1st quarter. Geode Capital Management LLC now owns 1,149,100 shares of the biopharmaceutical company’s stock valued at $54,409,000 after purchasing an additional 104,952 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of PTC Therapeutics by 84.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,565 shares of the biopharmaceutical company’s stock valued at $6,135,000 after purchasing an additional 59,345 shares during the last quarter.

Shares of PTC Therapeutics stock traded down $0.41 during trading hours on Tuesday, reaching $35.79. The company’s stock had a trading volume of 373,745 shares, compared to its average volume of 501,133. The stock has a market cap of $2.53 billion, a P/E ratio of -6.37 and a beta of 1.07. The company’s 50 day simple moving average is $39.94 and its 200 day simple moving average is $41.49. PTC Therapeutics has a one year low of $35.40 and a one year high of $70.82. The company has a debt-to-equity ratio of 5.67, a quick ratio of 3.61 and a current ratio of 3.66.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company, which engages in the discovery and commercialization of clinically differentiated medicines. It focuses on the development of new treatments for multiple therapeutic areas, including rare diseases and oncology. The firm’s portfolio includes Translarna, Emflaza, Tegsedi, Waylivra, and Evrysdi.

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Earnings History and Estimates for PTC Therapeutics (NASDAQ:PTCT)

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