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

PTC Therapeutics (NASDAQ:PTCT) is scheduled to be announcing its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of ($1.31) per share for the quarter. PTC Therapeutics has set its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.53). The firm had revenue of $307.06 million during 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 Trading Down 0.5 %

NASDAQ:PTCT opened at $25.16 on Thursday. The stock has a market cap of $1.93 billion, a P/E ratio of -3.01 and a beta of 0.67. The stock’s 50-day moving average is $28.09 and its 200-day moving average is $25.60. PTC Therapeutics has a 1-year low of $17.53 and a 1-year high of $59.84.

Insider Buying and Selling

In related news, Director Allan Steven Jacobson sold 10,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $27.38, for a total value of $273,800.00. Following the transaction, the director now directly owns 12,348 shares in the company, valued at approximately $338,088.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 12,256 shares of company stock worth $335,865 in the last ninety days. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

A number of large investors have recently modified their holdings of PTCT. KBC Group NV bought a new position in shares of PTC Therapeutics in the 4th quarter worth $43,000. Lazard Asset Management LLC lifted its stake in PTC Therapeutics by 115.1% during the 4th quarter. Lazard Asset Management LLC now owns 2,478 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 1,326 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in PTC Therapeutics during the 2nd quarter valued at $161,000. Tower Research Capital LLC TRC lifted its stake in PTC Therapeutics by 179.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,648 shares of the biopharmaceutical company’s stock valued at $183,000 after acquiring an additional 4,272 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new position in PTC Therapeutics during the 1st quarter valued at $207,000.

Wall Street Analysts Forecast Growth

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