PTC Therapeutics, Inc. (PTCT) Expected to Announce Quarterly Sales of $66.14 Million
Equities research analysts expect PTC Therapeutics, Inc. (NASDAQ:PTCT) to post $66.14 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for PTC Therapeutics’ earnings. The highest sales estimate is $68.30 million and the lowest is $63.97 million. PTC Therapeutics posted sales of $25.19 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 162.6%. The company is expected to report its next quarterly earnings results on Thursday, March 15th.
According to Zacks, analysts expect that PTC Therapeutics will report full-year sales of $66.14 million for the current financial year, with estimates ranging from $180.36 million to $184.70 million. For the next financial year, analysts anticipate that the company will post sales of $215.84 million per share, with estimates ranging from $211.90 million to $219.77 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover PTC Therapeutics.
PTCT has been the subject of a number of research analyst reports. Barclays reduced their price target on shares of PTC Therapeutics from $22.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 29th. Citigroup reaffirmed a “buy” rating and issued a $28.00 price target on shares of PTC Therapeutics in a research note on Wednesday, September 27th. Zacks Investment Research raised shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. J P Morgan Chase & Co raised shares of PTC Therapeutics from an “underweight” rating to a “neutral” rating and set a $15.00 price target for the company in a research note on Thursday, November 16th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of PTC Therapeutics in a research note on Friday, September 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.75.
Shares of PTC Therapeutics (NASDAQ:PTCT) traded down $0.17 during trading hours on Friday, hitting $15.78. 987,498 shares of the stock were exchanged, compared to its average volume of 1,032,816. PTC Therapeutics has a 12 month low of $8.12 and a 12 month high of $22.00. The company has a quick ratio of 2.97, a current ratio of 3.08 and a debt-to-equity ratio of 0.98.
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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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