PTC Therapeutics (NASDAQ:PTCT) Releases Earnings Results, Beats Estimates By $0.17 EPS

PTC Therapeutics (NASDAQ:PTCT) announced its earnings results on Tuesday, March 6th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.17, Bloomberg Earnings reports. The company had revenue of $78.00 million for the quarter, compared to the consensus estimate of $78.59 million. PTC Therapeutics had a negative return on equity of 50.75% and a negative net margin of 40.64%. The company’s revenue was up 209.5% on a year-over-year basis. During the same period last year, the business posted ($0.78) EPS.

PTC Therapeutics (NASDAQ:PTCT) traded up $0.50 on Wednesday, hitting $30.39. The stock had a trading volume of 1,069,305 shares, compared to its average volume of 996,048. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.04 and a quick ratio of 2.90. PTC Therapeutics has a one year low of $8.12 and a one year high of $31.25. The stock has a market capitalization of $1,197.80, a price-to-earnings ratio of -14.61 and a beta of 1.71.

Several equities analysts recently commented on PTCT shares. Zacks Investment Research upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Thursday, January 4th. Citigroup upped their target price on PTC Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. upgraded PTC Therapeutics from an “underweight” rating to a “neutral” rating and set a $15.00 price target on the stock in a research note on Thursday, November 16th. Barclays reiterated an “equal weight” rating and issued a $24.00 price target (up previously from $18.00) on shares of PTC Therapeutics in a research note on Wednesday, March 7th. Finally, ValuEngine cut PTC Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, December 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $23.57.

In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,230 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $18.03, for a total transaction of $40,206.90. Following the transaction, the chief executive officer now directly owns 26,646 shares of the company’s stock, valued at $480,427.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 2,719 shares of company stock valued at $48,848. 8.10% of the stock is owned by corporate insiders.

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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.

Earnings History for PTC Therapeutics (NASDAQ:PTCT)

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