Research Analysts Offer Predictions for PTCT FY2024 Earnings

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Equities research analysts at William Blair raised their FY2024 earnings per share (EPS) estimates for shares of PTC Therapeutics in a note issued to investors on Monday, January 13th. William Blair analyst S. Corwin now anticipates that the biopharmaceutical company will post earnings per share of ($5.33) for the year, up from their previous forecast of ($5.48). The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.90) per share. William Blair also issued estimates for PTC Therapeutics’ Q4 2024 earnings at ($1.45) EPS, Q1 2025 earnings at ($1.52) EPS, Q2 2025 earnings at ($1.36) EPS, Q3 2025 earnings at ($0.97) EPS, Q4 2025 earnings at ($0.69) EPS and FY2025 earnings at ($4.54) EPS.

A number of other equities analysts have also commented on PTCT. Robert W. Baird lifted their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. UBS Group boosted their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada raised shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $39.00 to $63.00 in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $55.00.

PTC Therapeutics Trading Up 1.1 %

NASDAQ PTCT opened at $42.27 on Thursday. The business’s 50-day moving average price is $45.26 and its two-hundred day moving average price is $38.66. PTC Therapeutics has a 12 month low of $23.58 and a 12 month high of $54.16.

Insider Activity at PTC Therapeutics

In related news, insider Neil Gregory Almstead sold 69,550 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $52.06, for a total value of $3,620,773.00. Following the transaction, the insider now directly owns 86,202 shares in the company, valued at $4,487,676.12. This trade represents a 44.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Mark Elliott Boulding sold 85,600 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the sale, the vice president now owns 92,389 shares of the company’s stock, valued at $4,828,249.14. This trade represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,737 shares of company stock valued at $10,920,687 in the last three months. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its stake in shares of PTC Therapeutics by 945.6% in the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after purchasing an additional 643,960 shares during the last quarter. Armistice Capital LLC boosted its position in shares of PTC Therapeutics by 2.9% during the second 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 during the last quarter. Parkman Healthcare Partners LLC bought a new stake in PTC Therapeutics during the third quarter worth $7,234,000. Ensign Peak Advisors Inc raised its position in PTC Therapeutics by 650.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company’s stock valued at $6,370,000 after buying an additional 180,561 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in PTC Therapeutics by 123.2% during the 2nd quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company’s stock valued at $9,712,000 after acquiring an additional 175,289 shares in the last quarter.

About PTC Therapeutics

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.