PTC Therapeutics, Inc. (NASDAQ:PTCT) Expected to Post Quarterly Sales of $79.38 Million

Equities analysts predict that PTC Therapeutics, Inc. (NASDAQ:PTCT) will report $79.38 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for PTC Therapeutics’ earnings, with estimates ranging from $71.00 million to $87.76 million. PTC Therapeutics reported sales of $85.52 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.2%. The firm is expected to announce its next quarterly earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that PTC Therapeutics will report full-year sales of $348.70 million for the current fiscal year, with estimates ranging from $333.00 million to $364.40 million. For the next year, analysts anticipate that the company will post sales of $556.83 million, with estimates ranging from $456.65 million to $657.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for PTC Therapeutics.

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

Several research firms have weighed in on PTCT. Barclays reaffirmed a “hold” rating and set a $51.00 price target on shares of PTC Therapeutics in a research report on Wednesday, March 4th. William Blair reaffirmed a “buy” rating on shares of PTC Therapeutics in a research report on Tuesday, April 28th. ValuEngine upgraded PTC Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, March 11th. Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research note on Monday, March 2nd. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $45.00 target price on shares of PTC Therapeutics in a research note on Wednesday, April 8th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $59.57.

Shares of NASDAQ:PTCT traded down $0.67 during trading on Wednesday, hitting $49.63. 453,896 shares of the company were exchanged, compared to its average volume of 878,905. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -9.96 and a beta of 1.48. PTC Therapeutics has a fifty-two week low of $30.79 and a fifty-two week high of $59.89. The firm has a fifty day moving average price of $48.26 and a two-hundred day moving average price of $48.71. The company has a current ratio of 3.18, a quick ratio of 3.09 and a debt-to-equity ratio of 0.56.

In related news, CEO Stuart Walter Peltz sold 109,928 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $50.34, for a total value of $5,533,775.52. Following the completion of the sale, the chief executive officer now directly owns 166,013 shares in the company, valued at approximately $8,357,094.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christine Marie Utter sold 787 shares of the business’s stock in a transaction on Friday, April 3rd. The shares were sold at an average price of $44.31, for a total value of $34,871.97. Following the completion of the sale, the chief accounting officer now owns 10,091 shares of the company’s stock, valued at $447,132.21. The disclosure for this sale can be found here. Insiders sold a total of 166,648 shares of company stock valued at $8,384,249 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

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

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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