PTC Therapeutics (NASDAQ:PTCT) Announces Quarterly Earnings Results

PTC Therapeutics (NASDAQ:PTCT) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.68, Zacks reports. The firm had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.

PTC Therapeutics Stock Up 1.4%

Shares of PTC Therapeutics stock traded up $1.03 during trading on Thursday, reaching $75.52. 1,373,818 shares of the company were exchanged, compared to its average volume of 1,459,631. PTC Therapeutics has a twelve month low of $43.17 and a twelve month high of $90.87. The business has a 50-day moving average price of $77.47 and a 200-day moving average price of $72.79. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of -32.41, a P/E/G ratio of 6.56 and a beta of 0.53.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 24,613 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $88.89, for a total value of $2,187,849.57. Following the transaction, the insider owned 60,299 shares of the company’s stock, valued at approximately $5,359,978.11. This represents a 28.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary L. Smith sold 15,834 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $90.00, for a total value of $1,425,060.00. Following the transaction, the director owned 21,813 shares in the company, valued at approximately $1,963,170. This trade represents a 42.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 198,662 shares of company stock valued at $16,347,994. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC bought a new stake in PTC Therapeutics in the first quarter valued at approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of PTC Therapeutics by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after purchasing an additional 18,504 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of PTC Therapeutics by 280.1% during the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 1,826 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at $1,661,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after buying an additional 814 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PTCT shares. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Zacks Research upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Royal Bank Of Canada upped their target price on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Raymond James Financial started coverage on shares of PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 target price on the stock. Finally, Cantor Fitzgerald lifted their price target on shares of PTC Therapeutics from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.83.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.