PTC Therapeutics, Inc. (NASDAQ:PTCT) Expected to Post Quarterly Sales of $86.75 Million

Wall Street brokerages forecast that PTC Therapeutics, Inc. (NASDAQ:PTCT) will report sales of $86.75 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for PTC Therapeutics’ earnings. The highest sales estimate is $90.00 million and the lowest is $83.50 million. PTC Therapeutics posted sales of $68.74 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.2%. The business is expected to issue its next quarterly earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that PTC Therapeutics will report full-year sales of $304.15 million for the current year, with estimates ranging from $287.40 million to $320.89 million. For the next financial year, analysts expect that the firm will post sales of $381.39 million, with estimates ranging from $370.90 million to $391.87 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow PTC Therapeutics.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.55). The company had revenue of $53.58 million for the quarter, compared to the consensus estimate of $70.38 million. PTC Therapeutics had a negative return on equity of 32.42% and a negative net margin of 68.99%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.46) earnings per share.

Several equities research analysts have recently weighed in on the company. ValuEngine raised PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Zacks Investment Research lowered PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Cowen restated a “hold” rating on shares of PTC Therapeutics in a report on Thursday, May 2nd. Bank of America upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the company from $43.00 to $49.00 in a report on Monday, May 13th. Finally, Sanford C. Bernstein initiated coverage on PTC Therapeutics in a report on Thursday, April 11th. They issued an “outperform” rating and a $48.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $49.89.

In other news, COO Marcio Souza sold 5,490 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.38, for a total value of $221,686.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.00% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Canton Hathaway LLC raised its holdings in shares of PTC Therapeutics by 57.1% during the fourth quarter. Canton Hathaway LLC now owns 1,100 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 400 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of PTC Therapeutics by 18.7% during the first quarter. Alps Advisors Inc. now owns 138,464 shares of the biopharmaceutical company’s stock worth $5,212,000 after acquiring an additional 21,862 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of PTC Therapeutics during the fourth quarter worth $228,000. Bank of America Corp DE raised its holdings in shares of PTC Therapeutics by 6.8% during the fourth quarter. Bank of America Corp DE now owns 185,932 shares of the biopharmaceutical company’s stock worth $6,381,000 after acquiring an additional 11,878 shares in the last quarter. Finally, Tekla Capital Management LLC raised its holdings in shares of PTC Therapeutics by 41.9% during the fourth quarter. Tekla Capital Management LLC now owns 68,652 shares of the biopharmaceutical company’s stock worth $2,356,000 after acquiring an additional 20,262 shares in the last quarter.

Shares of PTCT traded down $1.69 during trading hours on Tuesday, hitting $40.01. 696,759 shares of the company were exchanged, compared to its average volume of 766,872. The firm has a market cap of $2.34 billion, a PE ratio of -21.74 and a beta of 1.79. The company has a quick ratio of 3.24, a current ratio of 3.35 and a debt-to-equity ratio of 0.27. PTC Therapeutics has a one year low of $27.53 and a one year high of $52.95.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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