Equities analysts predict that PTC Therapeutics, Inc. (NASDAQ:PTCT) will announce $66.14 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for PTC Therapeutics’ earnings, with the lowest sales estimate coming in at $63.97 million and the highest estimate coming in at $68.30 million. PTC Therapeutics reported sales of $25.19 million in the same quarter last year, which indicates a positive year over year growth rate of 162.6%. The firm is expected to issue its next quarterly earnings results on Thursday, March 15th.
On average, analysts expect that PTC Therapeutics will report full year sales of $66.14 million for the current financial year, with estimates ranging from $180.36 million to $184.70 million. For the next year, analysts forecast that the firm will report sales of $215.84 million per share, with estimates ranging from $211.90 million to $219.77 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for PTC Therapeutics.
Several research firms recently weighed in on PTCT. ValuEngine cut shares of PTC Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, December 29th. JPMorgan Chase & Co. raised their price target on PTC Therapeutics to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 24th. Zacks Investment Research upgraded PTC Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Bank of America downgraded PTC Therapeutics from a “neutral” rating to an “underperform” rating in a report on Thursday, October 26th. Finally, Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.75.
Shares of PTC Therapeutics (PTCT) opened at $18.01 on Thursday. PTC Therapeutics has a fifty-two week low of $8.12 and a fifty-two week high of $22.00. The stock has a market cap of $747.23, a PE ratio of -6.23 and a beta of 1.23. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.08 and a quick ratio of 2.97.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new position in shares of PTC Therapeutics during the 3rd quarter valued at approximately $102,000. Quantbot Technologies LP bought a new position in PTC Therapeutics in the 3rd quarter valued at $150,000. Public Employees Retirement System of Ohio bought a new position in PTC Therapeutics in the 2nd quarter valued at $142,000. Prudential Financial Inc. bought a new position in PTC Therapeutics in the 2nd quarter valued at $201,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in PTC Therapeutics in the 3rd quarter valued at $229,000. 86.12% of the stock is currently owned by hedge funds and other institutional investors.
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About PTC Therapeutics
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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