FY2024 Earnings Forecast for PTCT Issued By Leerink Partnrs

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Investment analysts at Leerink Partnrs dropped their FY2024 earnings per share (EPS) estimates for shares of PTC Therapeutics in a research note issued to investors on Monday, December 2nd. Leerink Partnrs analyst J. Schwartz now expects that the biopharmaceutical company will post earnings per share of ($5.35) for the year, down from their prior estimate of ($5.33). The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.91) per share. Leerink Partnrs also issued estimates for PTC Therapeutics’ Q4 2024 earnings at ($1.47) EPS, Q1 2025 earnings at ($1.30) EPS, Q2 2025 earnings at ($0.93) EPS, Q4 2025 earnings at ($1.02) EPS, FY2025 earnings at ($4.61) EPS and FY2026 earnings at ($3.40) EPS.

A number of other equities analysts have also recently commented on PTCT. The Goldman Sachs Group raised their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday. UBS Group lifted their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday. Raymond James started coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating on the stock. StockNews.com raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $52.38.

PTC Therapeutics Price Performance

Shares of PTCT opened at $48.04 on Thursday. The firm has a 50-day simple moving average of $41.49 and a two-hundred day simple moving average of $36.80. The stock has a market cap of $3.70 billion, a PE ratio of -8.09 and a beta of 0.63. PTC Therapeutics has a 1-year low of $23.58 and a 1-year high of $54.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTCT. Point72 Asset Management L.P. grew its holdings in shares of PTC Therapeutics by 945.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after acquiring an additional 643,960 shares during the period. Armistice Capital LLC increased its position in shares of PTC Therapeutics by 2.9% in the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock valued at $212,905,000 after buying an additional 198,227 shares in the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of PTC Therapeutics during the 3rd quarter worth $7,234,000. Ensign Peak Advisors Inc boosted its position in shares of PTC Therapeutics by 650.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company’s stock worth $6,370,000 after buying an additional 180,561 shares in the last quarter. Finally, Millennium Management LLC grew its stake in PTC Therapeutics by 123.2% in the 2nd quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company’s stock valued at $9,712,000 after acquiring an additional 175,289 shares during the last quarter.

Insider Activity

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 85,600 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $52.26, for a total value of $4,473,456.00. Following the completion of the sale, the vice president now owns 92,389 shares of the company’s stock, valued at approximately $4,828,249.14. This trade represents a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Neil Gregory Almstead sold 69,550 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the transaction, the insider now owns 86,202 shares of the company’s stock, valued at $4,487,676.12. This represents a 44.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 196,950 shares of company stock valued at $10,251,735. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Company Profile

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.