$71.14 Million in Sales Expected for PTC Therapeutics, Inc. (PTCT) This Quarter

Analysts expect that PTC Therapeutics, Inc. (NASDAQ:PTCT) will report $71.14 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for PTC Therapeutics’ earnings. The lowest sales estimate is $63.97 million and the highest is $78.30 million. PTC Therapeutics reported sales of $25.19 million in the same quarter last year, which indicates a positive year over year growth rate of 182.4%. The business is scheduled to announce its next earnings results on Thursday, March 15th.

According to Zacks, analysts expect that PTC Therapeutics will report full-year sales of $71.14 million for the current fiscal year. For the next financial year, analysts forecast that the firm will post sales of $283.30 million per share. Zacks’ sales averages are a mean average based on a survey of research analysts that follow PTC Therapeutics.

PTCT has been the topic of several recent research reports. Zacks Investment Research raised PTC Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Thursday, January 4th. JPMorgan Chase & Co. raised PTC Therapeutics from an “underweight” rating to a “neutral” rating and set a $15.00 price objective on the stock in a report on Thursday, November 16th. Royal Bank of Canada set a $15.00 price objective on PTC Therapeutics and gave the stock a “hold” rating in a report on Wednesday, October 25th. Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, October 25th. Finally, ValuEngine lowered PTC Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, December 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. PTC Therapeutics presently has an average rating of “Hold” and an average price target of $19.57.

In related news, CEO Stuart Walter Peltz sold 2,230 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $18.03, for a total transaction of $40,206.90. Following the completion of the transaction, the chief executive officer now owns 26,646 shares in the company, valued at approximately $480,427.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 2,719 shares of company stock valued at $48,848 in the last 90 days. 8.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PTCT. Point72 Asset Management L.P. raised its position in PTC Therapeutics by 1,587.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 400,000 shares of the biopharmaceutical company’s stock valued at $8,004,000 after purchasing an additional 376,300 shares during the last quarter. Vanguard Group Inc. raised its position in PTC Therapeutics by 17.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock valued at $43,379,000 after purchasing an additional 346,525 shares during the last quarter. American Century Companies Inc. bought a new position in PTC Therapeutics in the 3rd quarter valued at $3,936,000. RTW Investments LP raised its position in PTC Therapeutics by 5.8% in the 3rd quarter. RTW Investments LP now owns 3,495,143 shares of the biopharmaceutical company’s stock valued at $69,938,000 after purchasing an additional 190,929 shares during the last quarter. Finally, Sectoral Asset Management Inc raised its position in PTC Therapeutics by 180.8% in the 3rd quarter. Sectoral Asset Management Inc now owns 170,535 shares of the biopharmaceutical company’s stock valued at $3,412,000 after purchasing an additional 109,800 shares during the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.

Shares of PTC Therapeutics (NASDAQ PTCT) opened at $24.80 on Wednesday. PTC Therapeutics has a fifty-two week low of $8.12 and a fifty-two week high of $28.75. The firm has a market capitalization of $1,023.13, a P/E ratio of -8.58 and a beta of 1.73. The company has a current ratio of 3.08, a quick ratio of 2.97 and a debt-to-equity ratio of 0.98.

ILLEGAL ACTIVITY WARNING: “$71.14 Million in Sales Expected for PTC Therapeutics, Inc. (PTCT) This Quarter” was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.thelincolnianonline.com/2018/02/14/71-14-million-in-sales-expected-for-ptc-therapeutics-inc-ptct-this-quarter-updated.html.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.

Get a free copy of the Zacks research report on PTC Therapeutics (PTCT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for PTC Therapeutics (NASDAQ:PTCT)

Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply