PTC Therapeutics, Inc. (PTCT) Expected to Post Earnings of -$0.89 Per Share
Equities analysts predict that PTC Therapeutics, Inc. (NASDAQ:PTCT) will report earnings per share (EPS) of ($0.89) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for PTC Therapeutics’ earnings. The lowest EPS estimate is ($0.97) and the highest is ($0.81). PTC Therapeutics reported earnings per share of ($1.14) during the same quarter last year, which indicates a positive year over year growth rate of 21.9%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, August 8th.
According to Zacks, analysts expect that PTC Therapeutics will report full-year earnings of ($3.49) per share for the current financial year, with EPS estimates ranging from ($3.53) to ($3.45). For the next fiscal year, analysts anticipate that the firm will post earnings of ($2.73) per share, with EPS estimates ranging from ($3.17) to ($2.28). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow PTC Therapeutics.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.03. The firm had revenue of $26.50 million during the quarter, compared to the consensus estimate of $27.93 million. PTC Therapeutics had a negative return on equity of 98.77% and a negative net margin of 143.80%. The company’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.22) earnings per share.
Several research analysts have recently issued reports on PTCT shares. Royal Bank Of Canada set a $12.00 target price on shares of PTC Therapeutics and gave the company a “hold” rating in a report on Monday, May 8th. Zacks Investment Research cut shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. J P Morgan Chase & Co restated a “neutral” rating and issued a $21.00 target price (up previously from $15.00) on shares of PTC Therapeutics in a report on Friday, June 30th. BidaskClub cut shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Citigroup Inc. set a $18.00 target price on shares of PTC Therapeutics and gave the company a “buy” rating in a report on Wednesday, June 7th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.11.
Shares of PTC Therapeutics (NASDAQ PTCT) opened at 19.91 on Tuesday. The stock has a 50 day moving average price of $18.99 and a 200 day moving average price of $13.82. The stock’s market capitalization is $683.23 million. PTC Therapeutics has a 52 week low of $4.03 and a 52 week high of $21.85.
In other PTC Therapeutics news, Director Dawn Svoronos purchased 25,000 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, May 23rd. The stock was purchased at an average price of $13.49 per share, for a total transaction of $337,250.00. Following the transaction, the director now directly owns 25,000 shares in the company, valued at $337,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.10% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Boxer Capital LLC acquired a new stake in PTC Therapeutics during the first quarter valued at approximately $14,760,000. State Street Corp increased its stake in PTC Therapeutics by 219.1% in the first quarter. State Street Corp now owns 1,896,674 shares of the biopharmaceutical company’s stock valued at $18,668,000 after buying an additional 1,302,278 shares during the period. Camber Capital Management LLC acquired a new stake in PTC Therapeutics during the first quarter valued at approximately $12,300,000. FMR LLC increased its stake in PTC Therapeutics by 192.2% in the fourth quarter. FMR LLC now owns 732,044 shares of the biopharmaceutical company’s stock valued at $7,987,000 after buying an additional 481,556 shares during the period. Finally, Spark Investment Management LLC increased its stake in PTC Therapeutics by 519.0% in the second quarter. Spark Investment Management LLC now owns 269,900 shares of the biopharmaceutical company’s stock valued at $4,947,000 after buying an additional 226,300 shares during the period. Hedge funds and other institutional investors own 77.00% of the company’s stock.
About PTC Therapeutics
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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