Zacks: Analysts Expect PTC Therapeutics, Inc. (NASDAQ:PTCT) Will Announce Quarterly Sales of $86.75 Million

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Equities research analysts predict that PTC Therapeutics, Inc. (NASDAQ:PTCT) will post sales of $86.75 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for PTC Therapeutics’ earnings. The lowest sales estimate is $83.50 million and the highest is $90.00 million. PTC Therapeutics posted sales of $68.74 million during the same quarter last year, which would indicate a positive year over year growth rate of 26.2%. The firm is expected to report its next quarterly earnings report on Tuesday, August 6th.

On average, analysts expect that PTC Therapeutics will report full year sales of $304.15 million for the current fiscal year, with estimates ranging from $287.40 million to $320.89 million. For the next year, analysts forecast that the business will report sales of $381.39 million, with estimates ranging from $370.90 million to $391.87 million. Zacks’ sales averages are an average based on a survey of analysts that follow PTC Therapeutics.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.55). The firm had revenue of $53.58 million during the quarter, compared to the consensus estimate of $70.38 million. PTC Therapeutics had a negative net margin of 68.99% and a negative return on equity of 32.42%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business earned ($0.46) earnings per share.

PTCT has been the topic of a number of recent analyst reports. Citigroup set a $59.00 price objective on shares of PTC Therapeutics and gave the company a “buy” rating in a research note on Friday, May 3rd. Zacks Investment Research cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Cantor Fitzgerald reissued a “buy” rating and issued a $61.00 price objective on shares of PTC Therapeutics in a research note on Thursday, February 28th. ValuEngine cut shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Sanford C. Bernstein initiated coverage on shares of PTC Therapeutics in a research note on Thursday, April 11th. They set an “outperform” rating and a $48.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $49.89.

NASDAQ:PTCT traded down $1.67 during mid-day trading on Tuesday, reaching $40.03. The stock had a trading volume of 7,451 shares, compared to its average volume of 781,656. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -21.82 and a beta of 1.79. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.35 and a quick ratio of 3.24. PTC Therapeutics has a 12 month low of $27.53 and a 12 month high of $52.95.

In other PTC Therapeutics news, COO Marcio Souza sold 5,490 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $40.38, for a total transaction of $221,686.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.00% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of PTC Therapeutics by 10.8% during the first quarter. BlackRock Inc. now owns 4,107,898 shares of the biopharmaceutical company’s stock worth $154,621,000 after purchasing an additional 400,657 shares during the period. Orbimed Advisors LLC lifted its holdings in shares of PTC Therapeutics by 19.2% during the fourth quarter. Orbimed Advisors LLC now owns 1,519,700 shares of the biopharmaceutical company’s stock worth $52,156,000 after purchasing an additional 244,700 shares during the period. Janus Henderson Group PLC acquired a new position in shares of PTC Therapeutics during the first quarter worth $53,392,000. Great Point Partners LLC lifted its holdings in shares of PTC Therapeutics by 70.7% during the fourth quarter. Great Point Partners LLC now owns 1,225,000 shares of the biopharmaceutical company’s stock worth $42,042,000 after purchasing an additional 507,542 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of PTC Therapeutics by 848.3% during the fourth quarter. Deutsche Bank AG now owns 978,900 shares of the biopharmaceutical company’s stock worth $33,595,000 after purchasing an additional 875,672 shares during the period.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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