Leerink Partnrs Issues Optimistic Forecast for PTCT Earnings

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Leerink Partnrs boosted their FY2024 earnings per share estimates for PTC Therapeutics in a report issued 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 forecast 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 released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) EPS for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.15. The business had revenue of $196.79 million during the quarter, compared to analyst estimates of $173.51 million. During the same period last year, the business posted ($1.76) EPS.

A number of other equities research analysts also recently issued reports on PTCT. UBS Group lifted their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their target price on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald dropped their price target on PTC Therapeutics from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. Finally, Citigroup raised their target price on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.00.

PTC Therapeutics Stock Down 0.4 %

Shares of NASDAQ PTCT opened at $45.08 on Wednesday. The firm has a 50-day moving average price of $45.25 and a 200 day moving average price of $39.09. PTC Therapeutics has a 52 week low of $23.58 and a 52 week high of $54.16. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -7.59 and a beta of 0.62.

Insiders Place Their Bets

In other news, insider Neil Gregory Almstead sold 1,265 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $57,355.10. Following the completion of the transaction, the insider now owns 104,783 shares of the company’s stock, valued at $4,750,861.22. This represents a 1.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew B. Klein sold 8,279 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 211,737 shares of company stock valued at $10,920,687. Company insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV raised its holdings in PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 504 shares during the period. CWM LLC increased its position in shares of PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 492 shares during the period. Quarry LP raised its stake in shares of PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after acquiring an additional 2,500 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of PTC Therapeutics by 8.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $269,000 after acquiring an additional 455 shares in the last quarter.

About PTC Therapeutics

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.