PTC Therapeutics (PTCT) to Release Quarterly Earnings on Thursday

PTC Therapeutics (NASDAQ:PTCT) is scheduled to be announcing its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of ($1.31) per share for the quarter. PTC Therapeutics has set its FY 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The firm had revenue of $307.06 million for the quarter, compared to analysts’ expectations of $315.90 million. On average, analysts expect PTC Therapeutics to post $-6 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $25.41 on Wednesday. The company’s fifty day moving average price is $28.10 and its 200-day moving average price is $25.74. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -3.04 and a beta of 0.67. PTC Therapeutics has a one year low of $17.53 and a one year high of $59.84.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $24.89, for a total value of $83,655.29. Following the sale, the chief executive officer now owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 6,404 shares of company stock valued at $165,506 in the last quarter. Insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PTCT shares. Jefferies Financial Group increased their price target on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. TD Cowen decreased their price target on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, March 1st. Royal Bank of Canada increased their target price on shares of PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of PTC Therapeutics in a report on Friday, April 12th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.53.

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.