PTC Therapeutics, Inc. (PTCT) Expected to Post Quarterly Sales of $87.31 Million

Wall Street analysts expect that PTC Therapeutics, Inc. (NASDAQ:PTCT) will announce sales of $87.31 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for PTC Therapeutics’ earnings, with the lowest sales estimate coming in at $85.34 million and the highest estimate coming in at $89.28 million. PTC Therapeutics reported sales of $78.03 million in the same quarter last year, which would suggest a positive year over year growth rate of 11.9%. The company is expected to issue its next quarterly earnings results on Tuesday, March 5th.

On average, analysts expect that PTC Therapeutics will report full year sales of $265.67 million for the current fiscal year, with estimates ranging from $263.65 million to $267.68 million. For the next year, analysts anticipate that the company will post sales of $332.07 million, with estimates ranging from $317.57 million to $346.56 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover PTC Therapeutics.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.66). PTC Therapeutics had a negative net margin of 30.61% and a negative return on equity of 27.95%. The business had revenue of $53.59 million during the quarter, compared to analyst estimates of $70.56 million. During the same quarter in the prior year, the business earned ($0.82) earnings per share. The firm’s quarterly revenue was up 28.0% on a year-over-year basis.

PTCT has been the topic of a number of research analyst reports. Credit Suisse Group set a $55.00 target price on PTC Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, October 3rd. William Blair reiterated a “buy” rating on shares of PTC Therapeutics in a research report on Wednesday, October 3rd. Zacks Investment Research cut PTC Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Cantor Fitzgerald cut their target price on PTC Therapeutics from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Monday, November 12th. Finally, ValuEngine cut PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $45.63.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY increased its position in shares of PTC Therapeutics by 13.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 14,769 shares of the biopharmaceutical company’s stock worth $498,000 after purchasing an additional 1,753 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of PTC Therapeutics by 9.6% during the second quarter. MetLife Investment Advisors LLC now owns 21,050 shares of the biopharmaceutical company’s stock worth $710,000 after buying an additional 1,850 shares during the last quarter. First Republic Investment Management Inc. grew its holdings in shares of PTC Therapeutics by 30.0% during the third quarter. First Republic Investment Management Inc. now owns 9,178 shares of the biopharmaceutical company’s stock worth $431,000 after buying an additional 2,118 shares during the last quarter. Elk Creek Partners LLC grew its holdings in shares of PTC Therapeutics by 0.8% during the third quarter. Elk Creek Partners LLC now owns 271,035 shares of the biopharmaceutical company’s stock worth $12,739,000 after buying an additional 2,211 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of PTC Therapeutics by 871.2% during the third quarter. Quantbot Technologies LP now owns 2,729 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 2,448 shares during the last quarter. Institutional investors and hedge funds own 96.37% of the company’s stock.

PTC Therapeutics stock traded up $0.64 during midday trading on Friday, reaching $34.44. The company’s stock had a trading volume of 420,508 shares, compared to its average volume of 1,031,927. PTC Therapeutics has a fifty-two week low of $15.22 and a fifty-two week high of $52.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.73 and a quick ratio of 2.61. The stock has a market cap of $1.71 billion, a PE ratio of -17.05 and a beta of 2.21.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.

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Earnings History and Estimates for PTC Therapeutics (NASDAQ:PTCT)

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