PTC Therapeutics (PTCT) to Release Earnings on Thursday

PTC Therapeutics (NASDAQ:PTCT) is set to release its earnings data after the market closes on Thursday, April 25th. Analysts expect PTC Therapeutics to post earnings of ($1.31) per share for the quarter. PTC Therapeutics has set its FY 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.53). The business had revenue of $307.06 million for the quarter, compared to analysts’ expectations of $315.90 million. On average, analysts expect PTC Therapeutics to post $-6 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

PTC Therapeutics Price Performance

PTC Therapeutics stock opened at $25.97 on Tuesday. PTC Therapeutics has a one year low of $17.53 and a one year high of $59.84. The company’s fifty day moving average price is $28.08 and its two-hundred day moving average price is $25.71.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PTCT shares. TD Cowen decreased their price target on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Jefferies Financial Group upped their price target on shares of PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of PTC Therapeutics in a report on Friday, April 12th. Finally, Royal Bank of Canada upped their price target on shares of PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.53.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $24.89, for a total transaction of $83,655.29. Following the completion of the transaction, the chief executive officer now owns 225,807 shares in the company, valued at $5,620,336.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 6,404 shares of company stock worth $165,506 over the last quarter. Company insiders own 5.30% of the company’s stock.

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.