PTC Therapeutics, Inc. (PTCT) Expected to Post Earnings of -$0.23 Per Share
Equities research analysts expect that PTC Therapeutics, Inc. (NASDAQ:PTCT) will announce earnings of ($0.23) per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for PTC Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.14) and the lowest estimate coming in at ($0.38). PTC Therapeutics posted earnings per share of ($0.78) during the same quarter last year, which suggests a positive year-over-year growth rate of 70.5%. The business is expected to announce its next quarterly earnings results on Thursday, March 15th.
According to Zacks, analysts expect that PTC Therapeutics will report full-year earnings of ($2.23) per share for the current year, with EPS estimates ranging from ($2.25) to ($2.20). For the next year, analysts forecast that the company will report earnings of ($2.10) per share, with EPS estimates ranging from ($2.81) to ($1.40). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover PTC Therapeutics.
PTCT has been the subject of a number of analyst reports. William Blair initiated coverage on shares of PTC Therapeutics in a report on Wednesday, August 23rd. They issued a “market perform” rating and a $17.00 price objective for the company. Zacks Investment Research raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Wednesday, August 30th. ValuEngine lowered shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Barclays reissued a “hold” rating and issued a $22.00 price objective on shares of PTC Therapeutics in a report on Friday, September 8th. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of PTC Therapeutics in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. PTC Therapeutics has an average rating of “Hold” and an average price target of $18.75.
Hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. purchased a new position in PTC Therapeutics during the third quarter worth about $102,000. Quantbot Technologies LP purchased a new position in PTC Therapeutics during the third quarter worth about $150,000. Public Employees Retirement System of Ohio purchased a new position in PTC Therapeutics during the second quarter worth about $142,000. Prudential Financial Inc. purchased a new position in PTC Therapeutics during the second quarter worth about $201,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in PTC Therapeutics during the third quarter worth about $229,000. 86.18% of the stock is owned by institutional investors.
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PTC Therapeutics Company Profile
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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