PTC Therapeutics (PTCT) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS
PTC Therapeutics (NASDAQ:PTCT) issued its quarterly earnings data on Thursday. The company reported ($0.86) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.75) by $0.11, ARN reports. The company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.71 million. The company’s quarterly revenue was down 75.5% on a year-over-year basis.
PTCT has been the subject of a number of recent research reports. Analysts at Oppenheimer initiated coverage on shares of PTC Therapeutics in a research note on Thursday, July 31st. They set an “outperform” rating and a $60.00 price target on the stock. On the ratings front, analysts at Bank of America initiated coverage on shares of PTC Therapeutics in a research note on Tuesday, July 22nd. They set a “buy” rating and a $37.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of PTC Therapeutics in a research note on Thursday, July 10th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.50.
Shares of PTC Therapeutics (NASDAQ:PTCT) traded down 7.60% on Thursday, hitting $28.09. 111,056 shares of the company’s stock traded hands. PTC Therapeutics has a one year low of $13.15 and a one year high of $34.65. The stock has a 50-day moving average of $26.5 and a 200-day moving average of $24.88. The company’s market cap is $823.7 million.
PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of orally administered, small-molecule drugs that target post-transcriptional control processes.
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