Zacks: Analysts Expect PTC Therapeutics, Inc. (PTCT) Will Announce Earnings of -$0.02 Per Share

Wall Street brokerages expect that PTC Therapeutics, Inc. (NASDAQ:PTCT) will post ($0.02) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for PTC Therapeutics’ earnings. The lowest EPS estimate is ($0.17) and the highest is $0.10. PTC Therapeutics reported earnings of ($0.78) per share in the same quarter last year, which would suggest a positive year over year growth rate of 97.4%. The firm is expected to report its next earnings report on Thursday, March 15th.

On average, analysts expect that PTC Therapeutics will report full-year earnings of ($2.01) per share for the current year, with EPS estimates ranging from ($2.23) to ($1.80). For the next financial year, analysts forecast that the business will post earnings of ($2.50) per share, with EPS estimates ranging from ($3.65) to ($1.03). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PTC Therapeutics.

A number of research analysts have recently issued reports on PTCT shares. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, October 25th. Zacks Investment Research upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Thursday, January 4th. Bank of America cut PTC Therapeutics from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 26th. ValuEngine upgraded PTC Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. upped their price target on PTC Therapeutics to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. PTC Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $19.57.

In related news, CEO Stuart Walter Peltz sold 2,230 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $18.03, for a total transaction of $40,206.90. Following the completion of the sale, the chief executive officer now owns 26,646 shares in the company, valued at $480,427.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,719 shares of company stock valued at $48,848 in the last quarter. 8.10% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its position in shares of PTC Therapeutics by 8.5% during the second quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock worth $11,275,000 after purchasing an additional 48,308 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of PTC Therapeutics by 56.3% during the second quarter. New York State Common Retirement Fund now owns 50,650 shares of the biopharmaceutical company’s stock worth $928,000 after purchasing an additional 18,249 shares in the last quarter. Vanguard Group Inc. grew its position in shares of PTC Therapeutics by 17.2% during the second quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock worth $43,379,000 after purchasing an additional 346,525 shares in the last quarter. Nomura Holdings Inc. grew its position in shares of PTC Therapeutics by 28.7% during the second quarter. Nomura Holdings Inc. now owns 50,672 shares of the biopharmaceutical company’s stock worth $928,000 after purchasing an additional 11,300 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of PTC Therapeutics by 15.9% during the third quarter. Swiss National Bank now owns 65,565 shares of the biopharmaceutical company’s stock worth $1,312,000 after purchasing an additional 9,000 shares in the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.

PTC Therapeutics (NASDAQ PTCT) traded down $0.29 during trading on Monday, reaching $24.55. The company’s stock had a trading volume of 15,122 shares, compared to its average volume of 1,128,352. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.97 and a current ratio of 3.08. PTC Therapeutics has a twelve month low of $8.12 and a twelve month high of $28.75.

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About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.

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

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