PTC Therapeutics (PTCT) to Release Earnings on Thursday

PTC Therapeutics (NASDAQ:PTCT) is set to announce its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of ($1.31) per share for the quarter. PTC Therapeutics has set its FY 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The company had revenue of $307.06 million for the quarter, compared to analyst estimates of $315.90 million. On average, analysts expect PTC Therapeutics to post $-6 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

PTC Therapeutics Stock Up 2.6 %

PTCT opened at $25.97 on Tuesday. PTC Therapeutics has a 1-year low of $17.53 and a 1-year high of $59.84. The company has a fifty day moving average price of $28.08 and a two-hundred day moving average price of $25.71.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of PTC Therapeutics in a report on Friday, April 12th. Jefferies Financial Group lifted their price objective on shares of PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, TD Cowen reduced their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.53.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of PTC Therapeutics stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $24.89, for a total value of $83,655.29. Following the sale, the chief executive officer now owns 225,807 shares of the company’s stock, valued at $5,620,336.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 6,404 shares of company stock valued at $165,506. Company insiders own 5.30% of the company’s stock.

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.