PTC Therapeutics, Inc. (PTCT) Expected to Post Quarterly Sales of $71.14 Million

Brokerages expect PTC Therapeutics, Inc. (NASDAQ:PTCT) to announce $71.14 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for PTC Therapeutics’ earnings. The highest sales estimate is $78.30 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 182.4%. 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 sales of $71.14 million for the current fiscal year. For the next fiscal year, analysts forecast that the business will report sales of $283.30 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover PTC Therapeutics.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.01). PTC Therapeutics had a negative return on equity of 75.19% and a negative net margin of 75.64%.

A number of brokerages have recently issued reports on PTCT. Zacks Investment Research downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. ValuEngine raised PTC Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 9th. JPMorgan Chase & Co. downgraded PTC Therapeutics from a “neutral” rating to an “underweight” rating and cut their target price for the company from $23.00 to $15.00 in a research report on Monday, October 9th. Citigroup reissued a “buy” rating and issued a $28.00 target price on shares of PTC Therapeutics in a research report on Wednesday, September 27th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $25.00 target price on shares of PTC Therapeutics in a research report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $19.14.

PTC Therapeutics (NASDAQ PTCT) opened at $21.92 on Friday. The stock has a market capitalization of $868.38, a price-to-earnings ratio of -7.58 and a beta of 1.23. The company has a current ratio of 3.08, a quick ratio of 2.97 and a debt-to-equity ratio of 0.98. PTC Therapeutics has a 12-month low of $8.12 and a 12-month high of $23.71.

In related news, CEO Stuart Walter Peltz sold 2,230 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $18.03, for a total value of $40,206.90. Following the transaction, the chief executive officer now directly owns 26,646 shares of the company’s stock, valued at approximately $480,427.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 2,719 shares of company stock worth $48,848. 8.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new stake in PTC Therapeutics during the 3rd quarter worth about $102,000. Public Employees Retirement System of Ohio acquired a new stake in PTC Therapeutics during the 2nd quarter worth about $142,000. Quantbot Technologies LP acquired a new stake in PTC Therapeutics during the 3rd quarter worth about $150,000. Prudential Financial Inc. acquired a new stake in PTC Therapeutics during the 2nd quarter worth about $201,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in PTC Therapeutics during the 3rd quarter worth about $229,000. 86.12% of the stock is currently owned by institutional investors.

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

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