FY2024 Earnings Estimate for PTCT Issued By Leerink Partnrs

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Research analysts at Leerink Partnrs decreased their FY2024 earnings per share estimates for PTC Therapeutics in a report issued on Monday, December 2nd. Leerink Partnrs analyst J. Schwartz now anticipates that the biopharmaceutical company will post earnings per share of ($5.35) for the year, down from their previous forecast of ($5.33). The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.91) per share. Leerink Partnrs also issued estimates for PTC Therapeutics’ Q4 2024 earnings at ($1.47) EPS, Q1 2025 earnings at ($1.30) EPS, Q2 2025 earnings at ($0.93) EPS, Q4 2025 earnings at ($1.02) EPS, FY2025 earnings at ($4.61) EPS and FY2026 earnings at ($3.40) EPS.

Several other research analysts have also weighed in on PTCT. Robert W. Baird upped their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday. Royal Bank of Canada raised shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $39.00 to $63.00 in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $64.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Raymond James assumed coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $52.38.

PTC Therapeutics Stock Performance

PTCT stock opened at $49.86 on Thursday. PTC Therapeutics has a 52-week low of $23.58 and a 52-week high of $54.16. The company’s 50 day simple moving average is $41.06 and its 200-day simple moving average is $36.66.

Insider Activity

In other PTC Therapeutics news, Director Jerome B. Zeldis sold 24,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $51.50, for a total transaction of $1,236,000.00. Following the completion of the transaction, the director now owns 14,500 shares in the company, valued at approximately $746,750. This represents a 62.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Elliott Boulding sold 85,600 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the transaction, the vice president now owns 92,389 shares of the company’s stock, valued at approximately $4,828,249.14. This represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,950 shares of company stock valued at $10,251,735 in the last 90 days. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently added to or reduced their stakes in PTCT. Armistice Capital LLC grew its holdings in PTC Therapeutics by 2.9% in the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock valued at $212,905,000 after buying an additional 198,227 shares in the last quarter. Cowen AND Company LLC grew its holdings in PTC Therapeutics by 0.8% in the 2nd quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock valued at $114,873,000 after buying an additional 30,843 shares in the last quarter. State Street Corp grew its holdings in shares of PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of PTC Therapeutics by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of PTC Therapeutics by 7.4% during the 2nd quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock worth $25,017,000 after purchasing an additional 56,700 shares in the last quarter.

PTC Therapeutics Company Profile

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.