PTC Therapeutics, Inc. Forecasted to Earn FY2020 Earnings of ($5.95) Per Share (NASDAQ:PTCT)

PTC Therapeutics, Inc. (NASDAQ:PTCT) – William Blair decreased their FY2020 EPS estimates for shares of PTC Therapeutics in a research note issued to investors on Monday, July 20th. William Blair analyst R. Prasad now forecasts that the biopharmaceutical company will earn ($5.95) per share for the year, down from their previous estimate of ($5.93). William Blair has a “Buy” rating on the stock. William Blair also issued estimates for PTC Therapeutics’ Q4 2020 earnings at ($1.29) EPS, Q1 2021 earnings at ($1.36) EPS, Q2 2021 earnings at ($1.41) EPS, Q3 2021 earnings at ($1.55) EPS, Q4 2021 earnings at ($1.42) EPS and FY2021 earnings at ($5.74) EPS.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.81). PTC Therapeutics had a negative net margin of 90.83% and a negative return on equity of 46.42%. The business had revenue of $68.30 million during the quarter, compared to analyst estimates of $81.90 million. During the same quarter in the prior year, the company posted ($1.29) earnings per share. The company’s revenue was up 26.5% on a year-over-year basis.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada reiterated a “hold” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a report on Wednesday, April 8th. Cowen restated a “hold” rating and set a $50.00 price target on shares of PTC Therapeutics in a research note on Monday, July 20th. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $71.00 to $67.00 in a research note on Thursday, April 9th. Zacks Investment Research upgraded PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, SunTrust Banks upped their price target on PTC Therapeutics from $75.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $59.63.

PTCT opened at $47.15 on Thursday. PTC Therapeutics has a one year low of $30.79 and a one year high of $59.89. The stock has a market capitalization of $3.09 billion, a PE ratio of -9.45 and a beta of 1.40. The business’s 50 day moving average price is $52.06 and its 200 day moving average price is $50.28. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.09 and a current ratio of 3.18.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in shares of PTC Therapeutics by 565.6% during the first quarter. Wellington Management Group LLP now owns 6,238,168 shares of the biopharmaceutical company’s stock worth $278,285,000 after buying an additional 5,300,979 shares during the last quarter. Franklin Resources Inc. lifted its position in PTC Therapeutics by 0.9% in the first quarter. Franklin Resources Inc. now owns 5,520,582 shares of the biopharmaceutical company’s stock valued at $246,241,000 after purchasing an additional 50,274 shares during the period. BlackRock Inc. lifted its position in PTC Therapeutics by 4.3% in the first quarter. BlackRock Inc. now owns 5,127,914 shares of the biopharmaceutical company’s stock valued at $228,755,000 after purchasing an additional 213,321 shares during the period. State Street Corp lifted its position in PTC Therapeutics by 1.4% in the first quarter. State Street Corp now owns 2,372,677 shares of the biopharmaceutical company’s stock valued at $105,845,000 after purchasing an additional 33,731 shares during the period. Finally, Janus Henderson Group PLC lifted its position in PTC Therapeutics by 19.0% in the first quarter. Janus Henderson Group PLC now owns 1,769,757 shares of the biopharmaceutical company’s stock valued at $78,949,000 after purchasing an additional 283,095 shares during the period.

In other PTC Therapeutics news, CFO Emily Luisa Hill sold 2,581 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $52.50, for a total transaction of $135,502.50. Following the transaction, the chief financial officer now owns 13,610 shares of the company’s stock, valued at $714,525. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stuart Walter Peltz sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $55.70, for a total value of $5,570,000.00. Following the transaction, the chief executive officer now directly owns 106,085 shares in the company, valued at approximately $5,908,934.50. The disclosure for this sale can be found here. Insiders sold 280,210 shares of company stock worth $14,793,294 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

PTC Therapeutics Company Profile

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

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