PTC Therapeutics, Inc. (NASDAQ:PTCT) Expected to Earn Q2 2024 Earnings of ($1.02) Per Share

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Research analysts at Leerink Partnrs dropped their Q2 2024 earnings per share estimates for shares of PTC Therapeutics in a report issued on Sunday, May 19th. Leerink Partnrs analyst J. Schwartz now forecasts that the biopharmaceutical company will earn ($1.02) per share for the quarter, down from their previous estimate of ($0.98). The consensus estimate for PTC Therapeutics’ current full-year earnings is ($5.27) per share. Leerink Partnrs also issued estimates for PTC Therapeutics’ Q3 2024 earnings at ($1.28) EPS, Q4 2024 earnings at ($1.19) EPS, FY2024 earnings at ($4.69) EPS and FY2025 earnings at ($6.34) EPS.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share for the quarter, topping the consensus estimate of ($1.21) by $0.01. The business had revenue of $210.12 million during the quarter, compared to analyst estimates of $160.27 million.

Other equities analysts have also issued research reports about the company. TD Cowen reduced their target price on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, March 1st. Jefferies Financial Group lifted their target price on PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada increased their price target on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Raymond James upgraded shares of PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research note on Monday. Finally, Morgan Stanley raised shares of PTC Therapeutics from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $28.00 to $30.00 in a report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.67.

PTC Therapeutics Trading Down 3.9 %

Shares of PTC Therapeutics stock opened at $37.13 on Wednesday. The firm’s 50 day simple moving average is $29.79 and its two-hundred day simple moving average is $27.41. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -4.83 and a beta of 0.63. PTC Therapeutics has a 12-month low of $17.53 and a 12-month high of $48.63.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PTCT. Hexagon Capital Partners LLC lifted its position in PTC Therapeutics by 132.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 557 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of PTC Therapeutics during the 1st quarter worth $46,000. Nisa Investment Advisors LLC grew its holdings in shares of PTC Therapeutics by 317.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 2,019 shares during the period. Headlands Technologies LLC increased its position in PTC Therapeutics by 248.0% during the fourth quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 3,338 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 4,741 shares during the period.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total value of $83,655.29. Following the transaction, the chief executive officer now owns 225,807 shares in the company, valued at approximately $5,620,336.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,849 shares of company stock valued at $124,107 over the last ninety days. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.