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.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its holdings in shares of PTC Therapeutics by 49.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,582 shares of the biopharmaceutical company’s stock worth $232,000 after purchasing an additional 3,835 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of PTC Therapeutics by 78.9% in the 3rd quarter. California Public Employees Retirement System now owns 34,878 shares of the biopharmaceutical company’s stock worth $698,000 after purchasing an additional 15,378 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of PTC Therapeutics by 1,587.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 400,000 shares of the biopharmaceutical company’s stock worth $8,004,000 after purchasing an additional 376,300 shares in the last quarter. Sectoral Asset Management Inc raised its holdings in shares of PTC Therapeutics by 180.8% in the 3rd quarter. Sectoral Asset Management Inc now owns 170,535 shares of the biopharmaceutical company’s stock worth $3,412,000 after purchasing an additional 109,800 shares in the last quarter. Finally, RTW Investments LP raised its holdings in shares of PTC Therapeutics by 5.8% in the 3rd quarter. RTW Investments LP now owns 3,495,143 shares of the biopharmaceutical company’s stock worth $69,938,000 after purchasing an additional 190,929 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

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.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/01/ptc-therapeutics-inc-ptct-expected-to-announce-quarterly-sales-of-66-14-million.html.

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.

Get a free copy of the Zacks research report on PTC Therapeutics (PTCT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for PTC Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.