PTC Therapeutics (PTCT) Set to Announce Quarterly Earnings on Thursday

PTC Therapeutics (NASDAQ:PTCT) will be posting its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect PTC Therapeutics to post earnings of ($1.31) per share for the quarter. PTC Therapeutics has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.53). The business had revenue of $307.06 million for the quarter, compared to the consensus estimate of $315.90 million. On average, analysts expect PTC Therapeutics to post $-6 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

PTC Therapeutics Stock Down 0.5 %

PTCT stock opened at $25.16 on Thursday. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -3.01 and a beta of 0.67. PTC Therapeutics has a 12 month low of $17.53 and a 12 month high of $59.84. The firm has a 50 day moving average of $28.09 and a two-hundred day moving average of $25.60.

Insider Buying and Selling at PTC Therapeutics

In other news, Director Allan Steven Jacobson sold 10,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $27.38, for a total value of $273,800.00. Following the sale, the director now owns 12,348 shares of the company’s stock, valued at approximately $338,088.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 12,256 shares of company stock valued at $335,865 in the last 90 days. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently made changes to their positions in PTCT. Raymond James & Associates grew its holdings in shares of PTC Therapeutics by 17.5% in the 1st quarter. Raymond James & Associates now owns 8,341 shares of the biopharmaceutical company’s stock worth $311,000 after purchasing an additional 1,243 shares during the last quarter. US Bancorp DE grew its holdings in PTC Therapeutics by 9.9% during the 1st quarter. US Bancorp DE now owns 9,257 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 832 shares during the last quarter. MetLife Investment Management LLC grew its holdings in PTC Therapeutics by 53.8% during the 1st quarter. MetLife Investment Management LLC now owns 38,439 shares of the biopharmaceutical company’s stock worth $1,434,000 after acquiring an additional 13,448 shares during the last quarter. Sei Investments Co. grew its holdings in PTC Therapeutics by 2.1% during the 1st quarter. Sei Investments Co. now owns 44,938 shares of the biopharmaceutical company’s stock worth $1,677,000 after acquiring an additional 931 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in PTC Therapeutics by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,933,076 shares of the biopharmaceutical company’s stock worth $258,673,000 after acquiring an additional 44,167 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently commented on PTCT. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of PTC Therapeutics in a research note on Friday, April 12th. Jefferies Financial Group upped their target price on shares of PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Royal Bank of Canada upped their target price on shares of PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, March 1st. Finally, TD Cowen cut their target price on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.53.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.