PTC Therapeutics, Inc. (NASDAQ:PTCT) Expected to Announce Quarterly Sales of $105.65 Million

Brokerages expect PTC Therapeutics, Inc. (NASDAQ:PTCT) to post sales of $105.65 million for the current quarter, Zacks reports. Four analysts have made estimates for PTC Therapeutics’ earnings, with the highest sales estimate coming in at $110.50 million and the lowest estimate coming in at $95.98 million. PTC Therapeutics reported sales of $75.24 million in the same quarter last year, which indicates a positive year-over-year growth rate of 40.4%. The business is expected to announce its next quarterly earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that PTC Therapeutics will report full year sales of $489.56 million for the current financial year, with estimates ranging from $473.04 million to $511.80 million. For the next year, analysts anticipate that the firm will post sales of $747.91 million, with estimates ranging from $651.05 million to $857.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow PTC Therapeutics.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.59) by ($0.24). The business had revenue of $117.94 million during the quarter, compared to the consensus estimate of $98.77 million. PTC Therapeutics had a negative return on equity of 95.96% and a negative net margin of 105.50%. The firm’s revenue was up 72.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.81) earnings per share.

Several brokerages recently issued reports on PTCT. Truist decreased their price target on shares of PTC Therapeutics from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, May 17th. William Blair reiterated a “buy” rating on shares of PTC Therapeutics in a research note on Thursday, June 3rd. Truist Securities decreased their price target on shares of PTC Therapeutics from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, May 17th. Zacks Investment Research lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, April 30th. Finally, Cantor Fitzgerald reduced their price objective on shares of PTC Therapeutics from $81.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 26th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $64.08.

In other news, insider Eric Pauwels sold 786 shares of PTC Therapeutics stock in a transaction that occurred on Monday, April 19th. The shares were sold at an average price of $48.17, for a total value of $37,861.62. Following the completion of the sale, the insider now directly owns 35,701 shares in the company, valued at $1,719,717.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. boosted its holdings in shares of PTC Therapeutics by 3.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 444,142 shares of the biopharmaceutical company’s stock worth $27,106,000 after buying an additional 16,702 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of PTC Therapeutics by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 84,760 shares of the biopharmaceutical company’s stock worth $5,173,000 after buying an additional 18,633 shares during the last quarter. Spearhead Capital Advisors LLC purchased a new position in shares of PTC Therapeutics in the first quarter worth approximately $308,000. Motley Fool Asset Management LLC boosted its holdings in shares of PTC Therapeutics by 18.1% in the first quarter. Motley Fool Asset Management LLC now owns 135,253 shares of the biopharmaceutical company’s stock worth $6,404,000 after buying an additional 20,700 shares during the last quarter. Finally, Rothschild & Co. Asset Management US Inc. boosted its holdings in shares of PTC Therapeutics by 1.6% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 136,604 shares of the biopharmaceutical company’s stock worth $8,337,000 after buying an additional 2,165 shares during the last quarter.

Shares of PTC Therapeutics stock opened at $43.27 on Wednesday. The company has a debt-to-equity ratio of 3.80, a quick ratio of 4.41 and a current ratio of 4.47. The stock has a 50-day simple moving average of $41.88. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -6.44 and a beta of 1.01. PTC Therapeutics has a 1 year low of $37.12 and a 1 year high of $70.82.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, including rare diseases and oncology.

Recommended Story: How are dividend achievers different from dividend aristocrats?

Get a free copy of the Zacks research report on PTC Therapeutics (PTCT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.