Leerink Partnrs Expects Higher Earnings for PTC Therapeutics

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for shares of PTC Therapeutics in a research note issued to investors on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now forecasts that the biopharmaceutical company will post earnings per share of ($4.90) for the year, up from their previous estimate of ($5.35). The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.66) per share. Leerink Partnrs also issued estimates for PTC Therapeutics’ Q4 2024 earnings at ($1.02) EPS, Q1 2025 earnings at ($1.55) EPS, Q2 2025 earnings at ($1.40) EPS, Q3 2025 earnings at ($1.22) EPS, Q4 2025 earnings at ($1.03) EPS, FY2025 earnings at ($5.48) EPS and FY2026 earnings at ($4.52) EPS.

PTCT has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Robert W. Baird boosted their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. UBS Group boosted their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Finally, Barclays upped their price target on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.00.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $46.18 on Wednesday. The firm has a market cap of $3.56 billion, a P/E ratio of -7.77 and a beta of 0.62. The business’s fifty day moving average is $45.27 and its two-hundred day moving average is $39.13. PTC Therapeutics has a 52 week low of $23.58 and a 52 week high of $54.16.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) EPS for the quarter, topping the consensus estimate of ($1.54) by $0.15. The company had revenue of $196.79 million for the quarter, compared to the consensus estimate of $173.51 million. During the same quarter last year, the business earned ($1.76) EPS.

Insider Activity at PTC Therapeutics

In related news, VP Mark Elliott Boulding sold 85,600 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $4,828,249.14. This represents a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Neil Gregory Almstead sold 69,550 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.06, for a total value of $3,620,773.00. Following the completion of the sale, 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 quarter, insiders sold 211,737 shares of company stock worth $10,920,687. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of PTC Therapeutics in the fourth quarter worth about $79,000. KBC Group NV increased its holdings in shares of PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 504 shares in the last quarter. CWM LLC increased its holdings in shares of PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 492 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 2,500 shares in the last quarter.

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.