Q2 2022 Earnings Estimate for PTC Therapeutics, Inc. Issued By William Blair (NASDAQ:PTCT)

PTC Therapeutics, Inc. (NASDAQ:PTCTGet Rating) – Equities researchers at William Blair increased their Q2 2022 earnings estimates for PTC Therapeutics in a research report issued to clients and investors on Tuesday, May 3rd. William Blair analyst R. Prasad now forecasts that the biopharmaceutical company will post earnings of ($1.88) per share for the quarter, up from their prior forecast of ($2.01). William Blair also issued estimates for PTC Therapeutics’ Q4 2022 earnings at ($1.46) EPS, FY2022 earnings at ($6.53) EPS, Q1 2023 earnings at ($0.79) EPS, Q2 2023 earnings at ($1.77) EPS, Q3 2023 earnings at ($1.64) EPS, Q4 2023 earnings at ($2.19) EPS and FY2023 earnings at ($6.41) EPS.

Several other brokerages also recently commented on PTCT. StockNews.com assumed coverage on PTC Therapeutics in a report on Thursday, March 31st. They set a “hold” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $63.00 price objective (down from $64.00) on shares of PTC Therapeutics in a report on Friday, April 1st. Zacks Investment Research downgraded PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. JPMorgan Chase & Co. lifted their price objective on PTC Therapeutics from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Wednesday, February 23rd. Finally, Barclays dropped their price objective on PTC Therapeutics from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of “Hold” and an average price target of $51.70.

Shares of NASDAQ:PTCT opened at $35.14 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.84 and a debt-to-equity ratio of 679.17. PTC Therapeutics has a one year low of $32.44 and a one year high of $45.80. The business’s 50-day simple moving average is $38.25 and its 200 day simple moving average is $38.99.

PTC Therapeutics (NASDAQ:PTCTGet Rating) last announced its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($1.78) EPS for the quarter, missing the consensus estimate of ($1.70) by ($0.08). The company had revenue of $148.74 million for the quarter, compared to analysts’ expectations of $146.90 million. PTC Therapeutics had a negative net margin of 91.68% and a negative return on equity of 516.92%. The business’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.83) earnings per share.

In other PTC Therapeutics news, COO Matthew B. Klein sold 897 shares of the business’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $42.52, for a total value of $38,140.44. Following the transaction, the chief operating officer now owns 56,564 shares in the company, valued at $2,405,101.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Emily Luisa Hill sold 7,910 shares of the business’s stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $37.78, for a total value of $298,839.80. The disclosure for this sale can be found here. Insiders have sold 29,927 shares of company stock worth $1,286,290 over the last three months. 5.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTCT. Bank of America Corp DE boosted its stake in shares of PTC Therapeutics by 834.0% during the 4th quarter. Bank of America Corp DE now owns 2,634,143 shares of the biopharmaceutical company’s stock worth $104,917,000 after acquiring an additional 2,352,106 shares in the last quarter. Camber Capital Management LP bought a new stake in shares of PTC Therapeutics during the 3rd quarter worth about $27,908,000. Norges Bank bought a new stake in shares of PTC Therapeutics during the 4th quarter worth about $16,515,000. Macquarie Group Ltd. boosted its stake in shares of PTC Therapeutics by 25.2% during the 3rd quarter. Macquarie Group Ltd. now owns 1,571,441 shares of the biopharmaceutical company’s stock worth $58,473,000 after acquiring an additional 315,825 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of PTC Therapeutics by 131.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 527,333 shares of the biopharmaceutical company’s stock worth $21,004,000 after acquiring an additional 299,114 shares in the last quarter.

About PTC Therapeutics (Get Rating)

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.

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

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