Cantor Fitzgerald Brokers Raise Earnings Estimates for PTCT

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Analysts at Cantor Fitzgerald increased their FY2025 earnings per share (EPS) estimates for PTC Therapeutics in a report issued on Wednesday, May 7th. Cantor Fitzgerald analyst K. Kluska now expects that the biopharmaceutical company will post earnings per share of $8.50 for the year, up from their previous forecast of ($2.74). Cantor Fitzgerald has a “Overweight” rating and a $112.00 price objective on the stock. The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.52) per share.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $9.19. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. PTC Therapeutics’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.20) earnings per share.

Several other equities research analysts also recently issued reports on PTCT. Citigroup upgraded PTC Therapeutics from a “sell” rating to a “neutral” rating and cut their price objective for the company from $50.00 to $40.00 in a report on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Barclays cut their target price on shares of PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Thursday. Royal Bank of Canada raised their price target on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.92.

PTC Therapeutics Stock Up 4.0 %

NASDAQ:PTCT opened at $44.23 on Friday. PTC Therapeutics has a 52 week low of $28.72 and a 52 week high of $58.38. The stock’s fifty day moving average is $48.86 and its two-hundred day moving average is $46.99. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -7.45 and a beta of 0.52.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its stake in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 270 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 522 shares during the period. PNC Financial Services Group Inc. grew its position in PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 320 shares during the last quarter. GAMMA Investing LLC increased its stake in PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 441 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in PTC Therapeutics during the 4th quarter worth $68,000.

Insiders Place Their Bets

In other news, insider Neil Gregory Almstead sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $65,130.00. Following the transaction, the insider now directly owns 101,931 shares in the company, valued at approximately $5,106,743.10. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the sale, the vice president now owns 103,901 shares of the company’s stock, valued at approximately $5,537,923.30. This represents a 13.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,305 shares of company stock valued at $1,682,755. 5.50% of the stock is owned by corporate insiders.

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.