William Blair Has Optimistic Outlook of PTCT FY2024 Earnings

PTC Therapeutics, Inc. (NASDAQ:PTCT) – William Blair raised their FY2024 earnings estimates for shares of PTC Therapeutics in a report issued on Monday, January 13th. William Blair analyst S. Corwin now anticipates that the biopharmaceutical company will earn ($5.33) per share for the year, up from their prior forecast of ($5.48). The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.90) per share. William Blair also issued estimates for PTC Therapeutics’ Q4 2024 earnings at ($1.45) EPS, Q1 2025 earnings at ($1.52) EPS, Q2 2025 earnings at ($1.36) EPS, Q3 2025 earnings at ($0.97) EPS, Q4 2025 earnings at ($0.69) EPS and FY2025 earnings at ($4.54) EPS.

Other research analysts have also issued reports about the company. Barclays increased their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Citigroup raised their target price on PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Cantor Fitzgerald decreased their price objective on PTC Therapeutics from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, UBS Group upped their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.00.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $43.08 on Thursday. The firm has a 50 day simple moving average of $45.27 and a 200 day simple moving average of $38.69. PTC Therapeutics has a fifty-two week low of $23.58 and a fifty-two week high of $54.16. The firm has a market cap of $3.32 billion, a P/E ratio of -7.25 and a beta of 0.62.

Insider Buying and Selling

In related news, VP Mark Elliott Boulding sold 85,600 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00. Following the transaction, the vice president now owns 92,389 shares in the company, valued at approximately $4,828,249.14. This represents a 48.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neil Gregory Almstead sold 69,550 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the transaction, the insider now directly owns 86,202 shares in the company, valued at approximately $4,487,676.12. This represents a 44.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 211,737 shares of company stock valued at $10,920,687. 5.50% of the stock is owned by insiders.

Institutional Trading of PTC Therapeutics

Several institutional investors have recently added to or reduced their stakes in PTCT. Charles Schwab Investment Management Inc. lifted its holdings in shares of PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after buying an additional 47,902 shares in the last quarter. Two Sigma Advisers LP raised its stake in PTC Therapeutics by 10.3% in 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 in the last quarter. Intech Investment Management LLC bought a new stake in PTC Therapeutics in the 3rd quarter valued at about $698,000. Quest Partners LLC grew its position in shares of PTC Therapeutics by 433.9% during the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 18,171 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of PTC Therapeutics by 5.4% during the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares during the period.

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.