Zacks: Brokerages Anticipate PTC Therapeutics, Inc. (NASDAQ:PTCT) Will Announce Quarterly Sales of $113.47 Million

Wall Street brokerages expect that PTC Therapeutics, Inc. (NASDAQ:PTCT) will post $113.47 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for PTC Therapeutics’ earnings. The highest sales estimate is $116.97 million and the lowest is $105.30 million. PTC Therapeutics reported sales of $96.46 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.6%. The firm is expected to report its next earnings results after the market closes on Thursday, February 25th.

On average, analysts expect that PTC Therapeutics will report full-year sales of $375.07 million for the current year, with estimates ranging from $366.90 million to $378.87 million. For the next fiscal year, analysts anticipate that the company will report sales of $462.52 million, with estimates ranging from $438.40 million to $516.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for PTC Therapeutics.

A number of brokerages recently weighed in on PTCT. Raymond James boosted their price objective on shares of PTC Therapeutics from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, December 16th. Royal Bank of Canada downgraded shares of PTC Therapeutics from a “sector perform” rating to an “underperform” rating and set a $45.00 target price for the company. in a research report on Monday, November 30th. Smith Barney Citigroup raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 5th. Zacks Investment Research downgraded shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, February 18th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $85.00 in a research report on Tuesday, January 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.08.

NASDAQ PTCT traded up $1.00 during mid-day trading on Thursday, reaching $58.40. The stock had a trading volume of 28,538 shares, compared to its average volume of 530,135. PTC Therapeutics has a 1 year low of $30.79 and a 1 year high of $70.82. The stock has a market cap of $3.98 billion, a PE ratio of -8.21 and a beta of 1.22. The company has a fifty day moving average price of $63.02 and a 200 day moving average price of $57.00. The company has a debt-to-equity ratio of 1.89, a current ratio of 4.90 and a quick ratio of 4.83.

In related news, CEO Stuart Walter Peltz sold 348,417 shares of the company’s stock in a transaction on Monday, December 7th. The shares were sold at an average price of $61.00, for a total value of $21,253,437.00. Following the completion of the transaction, the chief executive officer now owns 248,877 shares of the company’s stock, valued at approximately $15,181,497. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dawn Svoronos sold 506 shares of the company’s stock in a transaction on Monday, February 1st. The stock was sold at an average price of $56.96, for a total transaction of $28,821.76. Following the completion of the transaction, the director now directly owns 27,430 shares of the company’s stock, valued at approximately $1,562,412.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 679,554 shares of company stock valued at $41,943,715. Insiders own 7.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in PTC Therapeutics by 32.2% in the 4th quarter. Principal Financial Group Inc. now owns 29,633 shares of the biopharmaceutical company’s stock worth $1,809,000 after buying an additional 7,226 shares during the period. JPMorgan Chase & Co. boosted its holdings in PTC Therapeutics by 20.0% in the 4th quarter. JPMorgan Chase & Co. now owns 235,528 shares of the biopharmaceutical company’s stock worth $14,374,000 after buying an additional 39,302 shares during the period. International Biotechnology Trust PLC boosted its holdings in PTC Therapeutics by 11.4% in the 4th quarter. International Biotechnology Trust PLC now owns 333,000 shares of the biopharmaceutical company’s stock worth $20,323,000 after buying an additional 34,000 shares during the period. Truist Financial Corp bought a new position in PTC Therapeutics in the 4th quarter worth $397,000. Finally, Twinbeech Capital LP bought a new position in PTC Therapeutics in the 4th quarter worth $372,000.

PTC Therapeutics Company Profile

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) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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