Q4 2022 EPS estimates for PTC Therapeutics, Inc. as reported by analyst (NASDAQ: PTCT)
PTC Therapeutics, Inc. (NASDAQ: PTCT) – Analysts at William Blair increased their earnings estimates for the fourth quarter of 2022 for shares of PTC Therapeutics in a research note released on Monday, January 10. William Blair analyst R. Prasad now forecasts the biopharmaceutical company to post earnings per share of $ 0.15 for the quarter, up from its previous forecast of $ 0.11.
Several other analysts also recently commented on the PTCT. Zacks investment research raised PTC Therapeutics shares from a “sell” rating to a “conservation” rating in a research report released Tuesday. Bank of America downgraded PTC Therapeutics shares from a “neutral” to an “underperforming” rating and set a price target of $ 38.00 for the company. in a research report on Monday, October 18. Credit Suisse Group lowered its price target for PTC Therapeutics shares from $ 50.00 to $ 48.00 and set a “neutral” rating on the share in a research note on Friday, October 29. Raymond James lowered his target price on PTC Therapeutics shares from $ 70.00 to $ 55 and set an “outperform” rating on the share in a report released on Friday, October 29. Finally, the Royal Bank of Canada lowered its target price for PTC Therapeutics shares from $ 45 to $ 42.00 and established a “sector performance” rating for the stock in a report released on Friday, October 29. One research analyst rated the stock with a sell rating, four assigned a conservation rating, and five assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $ 53.89.
PTC Therapeutics stock opened at $ 40.44 on Wednesday. The company has a 50-day moving average price of $ 39.21 and a 200-day moving average price of $ 39.87. The company has a market cap of $ 2.86 billion, a price-to-earnings ratio of -6.24 and a beta of 0.90. PTC Therapeutics has a 52-week low of $ 34.85 and a 52-week high of $ 69.48. The company has a quick ratio of 2.14, a current ratio of 2.17, and a debt to equity ratio of 9.27. PTC Therapeutics (NASDAQ: PTCT) last released its results on Thursday, October 28. The biopharmaceutical company announced ($ 1.89) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($ 1.78) from ($ 0.11). The company posted revenue of $ 139.00 million in the quarter, compared to analysts’ expectations of $ 118.87 million. PTC Therapeutics recorded a negative return on equity of 169.13% and a negative net margin of 92.43%. The company’s revenue increased 68.1% year-on-year. During the same period of the previous year, the company posted ($ 1.03) earnings per share.
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Hedge funds have recently increased or reduced their stakes in the company. Berman Capital Advisors LLC increased its stake in shares of PTC Therapeutics by 66.3% in the third quarter. Berman Capital Advisors LLC now owns 795 shares of the biopharmaceutical company valued at $ 29,000 after purchasing an additional 317 shares during the period. Meeder Asset Management Inc. increased its holdings of PTC Therapeutics shares by 273.2% during the third quarter. Meeder Asset Management Inc. now owns 1,739 shares of the biopharmaceutical company valued at $ 65,000 after purchasing an additional 1,273 shares in the last quarter. First Mercantile Trust Co. increased its stake in PTC Therapeutics shares by 18.3% during the third quarter. First Mercantile Trust Co. now owns 2,371 shares of the biopharmaceutical company valued at $ 88,000 after purchasing an additional 366 shares in the last quarter. Nisa Investment Advisors LLC increased its position in PTC Therapeutics by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,385 shares of the biopharmaceutical company valued at $ 143,000 after purchasing 850 additional shares in the last quarter. Finally, Vident Investment Advisory LLC purchased a new equity stake in PTC Therapeutics during the 2nd quarter for a value of $ 206,000.
In other PTC Therapeutics news, insider Neil Gregory Almstead sold 756 shares in a trade that took place on Friday, January 7. The shares were sold for an average price of $ 38.52, for a total value of $ 29,121.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Mark Elliott Boulding sold 885 shares in a trade on Friday January 7. The shares were sold at an average price of $ 38.52, for a total trade of $ 34,090.20. Disclosure of this sale can be found here. Insiders have sold 3,803 shares of the company valued at $ 148,115 in the past 90 days. 5.00% of the shares are currently owned by insiders of the company.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc. is a biopharmaceutical company dedicated to the discovery and commercialization of clinically differentiated drugs. He focuses on the development of new treatments for multiple therapeutic areas, including rare diseases and oncology. The company’s portfolio includes Translarna, Emflaza, Tegsedi, Waylivra and Evrysdi.
See also: Investing in growth stocks
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