PTC Therapeutics, Inc. (NASDAQ:PTCT) to Post FY2024 Earnings of ($2.56) Per Share, Jefferies Financial Group Forecasts

PTC Therapeutics, Inc. (NASDAQ:PTCTGet Rating) – Equities researchers at Jefferies Financial Group issued their FY2024 EPS estimates for shares of PTC Therapeutics in a research note issued to investors on Monday, September 12th. Jefferies Financial Group analyst K. Shi forecasts that the biopharmaceutical company will earn ($2.56) per share for the year. Jefferies Financial Group currently has a “Buy” rating and a $62.00 target price on the stock. The consensus estimate for PTC Therapeutics’ current full-year earnings is ($6.29) per share.

PTC Therapeutics (NASDAQ:PTCTGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($2.13) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.46). PTC Therapeutics had a negative return on equity of 983.21% and a negative net margin of 89.89%. The business had revenue of $165.50 million during the quarter, compared to the consensus estimate of $162.53 million. During the same quarter last year, the company earned ($1.68) EPS. PTC Therapeutics’s revenue for the quarter was up 41.8% on a year-over-year basis.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley began coverage on shares of PTC Therapeutics in a research note on Friday, September 9th. They set an “equal weight” rating and a $54.00 target price on the stock. Citigroup began coverage on shares of PTC Therapeutics in a research note on Thursday, September 1st. They set a “buy” rating and a $70.00 target price on the stock. Raymond James raised their target price on shares of PTC Therapeutics from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 11th. Credit Suisse Group raised their target price on shares of PTC Therapeutics to $55.00 in a research note on Tuesday, August 9th. Finally, Royal Bank of Canada lifted their price objective on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.30.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $53.45 on Wednesday. PTC Therapeutics has a 12 month low of $25.01 and a 12 month high of $54.89. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -6.83 and a beta of 0.58. The company’s 50 day moving average is $48.95 and its two-hundred day moving average is $40.21. The company has a current ratio of 1.22, a quick ratio of 1.20 and a debt-to-equity ratio of 679.17.

Insider Activity

In related news, Director Stephanie Okey sold 2,296 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $51.62, for a total value of $118,519.52. Following the completion of the transaction, the director now directly owns 1,867 shares of the company’s stock, valued at $96,374.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in shares of PTC Therapeutics in the fourth quarter valued at $112,000. Shell Asset Management Co. boosted its stake in PTC Therapeutics by 87.1% during the second quarter. Shell Asset Management Co. now owns 2,925 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 1,362 shares during the period. Neo Ivy Capital Management purchased a new position in PTC Therapeutics during the second quarter worth $118,000. Mayflower Financial Advisors LLC purchased a new position in PTC Therapeutics during the first quarter worth $230,000. Finally, Engineers Gate Manager LP purchased a new position in PTC Therapeutics during the first quarter worth $261,000.

PTC Therapeutics Company Profile

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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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