Q3 2024 EPS Estimates for PTC Therapeutics, Inc. (NASDAQ:PTCT) Lowered by Leerink Partnrs

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Stock analysts at Leerink Partnrs dropped their Q3 2024 EPS estimates for shares of PTC Therapeutics in a note issued to investors on Monday, August 12th. Leerink Partnrs analyst J. Schwartz now expects that the biopharmaceutical company will post earnings of ($1.91) per share for the quarter, down from their previous estimate of ($1.28). The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.87) per share. Leerink Partnrs also issued estimates for PTC Therapeutics’ Q4 2024 earnings at ($1.60) EPS, FY2024 earnings at ($6.00) EPS, Q1 2025 earnings at ($1.22) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($0.77) EPS, Q4 2025 earnings at ($0.90) EPS, FY2025 earnings at ($4.37) EPS and FY2026 earnings at ($3.01) EPS.

Several other equities research analysts also recently issued reports on the stock. Cantor Fitzgerald lifted their price target on shares of PTC Therapeutics from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Bank of America lifted their price target on shares of PTC Therapeutics from $25.00 to $32.00 and gave the stock an “underperform” rating in a research note on Friday, June 21st. Barclays lifted their price target on shares of PTC Therapeutics from $25.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $53.00 price target on shares of PTC Therapeutics in a research note on Thursday, June 20th. Finally, Citigroup lifted their price target on shares of PTC Therapeutics from $18.00 to $26.00 and gave the stock a “sell” rating in a research note on Tuesday, May 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.85.

PTC Therapeutics Trading Up 4.0 %

NASDAQ:PTCT opened at $33.04 on Wednesday. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -4.30 and a beta of 0.65. The firm’s fifty day simple moving average is $33.52 and its 200 day simple moving average is $31.08. PTC Therapeutics has a twelve month low of $17.53 and a twelve month high of $41.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PTCT. Janus Henderson Group PLC boosted its holdings in shares of PTC Therapeutics by 40.5% in the first quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock valued at $106,744,000 after acquiring an additional 1,057,223 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of PTC Therapeutics by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock valued at $242,551,000 after acquiring an additional 855,354 shares in the last quarter. Armistice Capital LLC boosted its holdings in shares of PTC Therapeutics by 11.6% in the fourth quarter. Armistice Capital LLC now owns 6,864,000 shares of the biopharmaceutical company’s stock valued at $189,172,000 after acquiring an additional 714,000 shares in the last quarter. Norges Bank bought a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $15,058,000. Finally, Wellington Management Group LLP boosted its holdings in shares of PTC Therapeutics by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock valued at $270,546,000 after acquiring an additional 380,415 shares in the last quarter.

Insider Buying and Selling

In related news, Director Jerome B. Zeldis sold 20,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total transaction of $764,800.00. Following the sale, the director now owns 14,500 shares in the company, valued at $554,480. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the transaction, the chief financial officer now owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jerome B. Zeldis sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $38.24, for a total transaction of $764,800.00. Following the completion of the transaction, the director now owns 14,500 shares of the company’s stock, valued at approximately $554,480. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.

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.