Cantor Fitzgerald Brokers Lower Earnings Estimates for PTCT

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Equities research analysts at Cantor Fitzgerald cut their FY2025 earnings per share (EPS) estimates for PTC Therapeutics in a research note issued on Monday, February 3rd. Cantor Fitzgerald analyst K. Kluska now expects that the biopharmaceutical company will earn ($3.26) per share for the year, down from their previous estimate of ($2.84). Cantor Fitzgerald has a “Overweight” rating and a $113.00 price target on the stock. The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.56) per share.

A number of other analysts have also recently commented on PTCT. Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $39.00 to $63.00 in a research note on Tuesday, December 3rd. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Barclays lifted their price target on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Robert W. Baird increased their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Raymond James started coverage on PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating for the company. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $57.85.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $49.99 on Wednesday. The stock has a market capitalization of $3.86 billion, a P/E ratio of -8.42 and a beta of 0.62. PTC Therapeutics has a 52-week low of $23.58 and a 52-week high of $54.16. The stock’s 50-day simple moving average is $46.23 and its 200 day simple moving average is $40.12.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) EPS for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.15. The firm had revenue of $196.79 million for the quarter, compared to analysts’ expectations of $173.51 million. During the same period in the prior year, the company earned ($1.76) EPS.

Insiders Place Their Bets

In other PTC Therapeutics news, CAO Christine Marie Utter sold 1,291 shares of PTC Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $58,533.94. Following the completion of the sale, the chief accounting officer now owns 65,983 shares of the company’s stock, valued at $2,991,669.22. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark Elliott Boulding sold 85,600 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00. Following the transaction, the vice president now owns 92,389 shares in the company, valued at $4,828,249.14. This trade represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 211,737 shares of company stock valued at $10,920,687 in the last quarter. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its position in PTC Therapeutics by 307.9% in the 2nd quarter. AQR Capital Management LLC now owns 68,912 shares of the biopharmaceutical company’s stock worth $2,107,000 after purchasing an additional 52,019 shares during the period. Millennium Management LLC grew its stake in shares of PTC Therapeutics by 123.2% during the second quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company’s stock valued at $9,712,000 after buying an additional 175,289 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of PTC Therapeutics by 6.5% in the second quarter. The Manufacturers Life Insurance Company now owns 43,796 shares of the biopharmaceutical company’s stock worth $1,339,000 after buying an additional 2,660 shares during the period. Creative Planning lifted its stake in shares of PTC Therapeutics by 19.0% in the 2nd quarter. Creative Planning now owns 10,128 shares of the biopharmaceutical company’s stock valued at $310,000 after acquiring an additional 1,619 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in PTC Therapeutics during the 3rd quarter valued at about $835,000.

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.