Leerink Partnrs Issues Optimistic Forecast for PTCT Earnings

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Equities research analysts at Leerink Partnrs lifted their FY2024 EPS estimates for PTC Therapeutics in a research note issued to investors on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now forecasts that the biopharmaceutical company will post earnings of ($4.90) per share for the year, up from their prior estimate of ($5.35). The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.75) per share. Leerink Partnrs also issued estimates for PTC Therapeutics’ Q4 2024 earnings at ($1.02) EPS, Q1 2025 earnings at ($1.55) EPS, Q2 2025 earnings at ($1.40) EPS, Q3 2025 earnings at ($1.22) EPS, Q4 2025 earnings at ($1.03) EPS, FY2025 earnings at ($5.48) EPS and FY2026 earnings at ($4.52) EPS.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.15. The company had revenue of $196.79 million for the quarter, compared to analyst estimates of $173.51 million. During the same quarter in the prior year, the firm earned ($1.76) earnings per share.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Barclays increased their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Citigroup lifted their price target on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. Finally, Cantor Fitzgerald reduced their target price on PTC Therapeutics from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $55.00.

PTC Therapeutics Stock Up 3.2 %

Shares of NASDAQ:PTCT opened at $45.25 on Wednesday. PTC Therapeutics has a 52-week low of $23.58 and a 52-week high of $54.16. The stock has a market cap of $3.49 billion, a P/E ratio of -7.62 and a beta of 0.62. The business has a fifty day moving average of $45.24 and a two-hundred day moving average of $38.98.

Institutional Trading of PTC Therapeutics

A number of large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after acquiring an additional 47,902 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after purchasing an additional 40,300 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of PTC Therapeutics during the third quarter worth $698,000. Quest Partners LLC increased its holdings in PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after buying an additional 18,171 shares during the last quarter. Finally, State Street Corp increased its holdings in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after buying an additional 149,700 shares during the last quarter.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 85,600 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the sale, the vice president now owns 92,389 shares in the company, valued at $4,828,249.14. This represents a 48.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew B. Klein sold 8,279 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the completion of the sale, the chief executive officer now directly owns 217,528 shares in the company, valued at $9,823,564.48. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,737 shares of company stock worth $10,920,687 in the last three months. 5.50% of the stock is owned by company insiders.

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.