William Blair Forecasts Weaker Earnings for PTC Therapeutics

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Analysts at William Blair decreased their FY2025 EPS estimates for PTC Therapeutics in a research note issued to investors on Monday, July 14th. William Blair analyst S. Corwin now expects that the biopharmaceutical company will post earnings of $6.14 per share for the year, down from their previous forecast of $6.38. The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.52) per share.

A number of other brokerages have also recently weighed in on PTCT. Bank of America upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $68.00 in a research note on Friday, May 9th. Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $68.00 to $74.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 27th. Truist Financial initiated coverage on shares of PTC Therapeutics in a research note on Tuesday, June 17th. They issued a “buy” rating and a $80.00 price objective for the company. Citigroup upgraded shares of PTC Therapeutics from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $50.00 to $40.00 in a research note on Wednesday, May 7th. Finally, Barclays reduced their price objective on shares of PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.00.

PTC Therapeutics Trading Down 3.5%

Shares of PTC Therapeutics stock opened at $47.75 on Tuesday. The firm has a fifty day simple moving average of $48.49 and a 200-day simple moving average of $48.44. PTC Therapeutics has a 1-year low of $29.02 and a 1-year high of $58.38. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 7.33 and a beta of 0.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping the consensus estimate of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. PTC Therapeutics had a net margin of 33.56% and a negative return on equity of 78.56%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.20) earnings per share.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds have recently made changes to their positions in PTCT. Toronto Dominion Bank acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth about $148,363,000. Driehaus Capital Management LLC acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth about $46,993,000. Nuveen LLC acquired a new stake in shares of PTC Therapeutics during the 1st quarter worth about $51,427,000. Point72 Asset Management L.P. grew its holdings in PTC Therapeutics by 150.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock worth $65,153,000 after acquiring an additional 867,502 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in PTC Therapeutics by 13.2% during the 1st quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company’s stock worth $276,161,000 after acquiring an additional 632,049 shares during the last quarter.

Insiders Place Their Bets

In other news, VP Mark Elliott Boulding sold 1,929 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $46.18, for a total value of $89,081.22. Following the completion of the transaction, the vice president owned 103,901 shares in the company, valued at approximately $4,798,148.18. This represents a 1.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew B. Klein sold 2,804 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total transaction of $136,666.96. Following the completion of the transaction, the chief executive officer owned 273,234 shares of the company’s stock, valued at approximately $13,317,425.16. This represents a 1.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,616 shares of company stock valued at $266,384. Corporate insiders own 5.50% of the company’s stock.

About PTC Therapeutics

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.