Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Rating) gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $49.23, but opened at $45.37. PTC Therapeutics shares last traded at $49.60, with a volume of 5,877 shares changing hands.
The biopharmaceutical company reported ($2.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.66) by ($0.47). PTC Therapeutics had a negative return on equity of 983.21% and a negative net margin of 91.68%. The business had revenue of $165.50 million for the quarter, compared to analysts’ expectations of $162.53 million. During the same period last year, the business earned ($1.68) earnings per share. The company’s revenue for the quarter was up 41.8% on a year-over-year basis.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Credit Suisse Group lifted their target price on shares of PTC Therapeutics to $52.00 in a research note on Friday, July 22nd. Royal Bank of Canada boosted their price objective on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.75.
Institutional Investors Weigh In On PTC Therapeutics
PTC Therapeutics Trading Up 8.7 %
The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of -7.25 and a beta of 0.63. The firm’s 50 day moving average is $38.29 and its 200 day moving average is $37.88. The company has a quick ratio of 1.59, a current ratio of 1.62 and a debt-to-equity ratio of 679.17.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.
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