PTC Therapeutics (PTCT) Set to Announce Quarterly Earnings on Thursday

PTC Therapeutics (NASDAQ:PTCT) is set to release its earnings data after the market closes on Thursday, November 7th. Analysts expect PTC Therapeutics to post earnings of ($1.52) per share for the quarter. PTC Therapeutics has set its FY 2024 guidance at EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The company had revenue of $186.70 million during the quarter, compared to analyst estimates of $192.12 million. On average, analysts expect PTC Therapeutics to post $-5 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

PTC Therapeutics Stock Down 0.1 %

Shares of PTCT traded down $0.06 during midday trading on Tuesday, reaching $40.33. 6,548 shares of the stock were exchanged, compared to its average volume of 844,367. The firm has a 50 day simple moving average of $36.81 and a 200-day simple moving average of $34.63. PTC Therapeutics has a 12-month low of $18.15 and a 12-month high of $43.40.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PTCT. Morgan Stanley boosted their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. UBS Group started coverage on shares of PTC Therapeutics in a research report on Monday, August 26th. They set a “buy” rating and a $47.00 target price on the stock. Raymond James began coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.08.

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.