PTC Therapeutics (PTCT) Issues Quarterly Earnings Results, Misses Expectations By $0.66 EPS

PTC Therapeutics (NASDAQ:PTCT) posted its earnings results on Monday. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.66), reports. PTC Therapeutics had a negative net margin of 25.03% and a negative return on equity of 27.41%. The company had revenue of $53.59 million during the quarter, compared to analyst estimates of $70.56 million. During the same quarter last year, the business posted ($0.82) EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis.

Shares of NASDAQ:PTCT traded up $1.64 during trading on Wednesday, hitting $36.40. The company’s stock had a trading volume of 24,576 shares, compared to its average volume of 650,531. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -18.02 and a beta of 2.21. The company has a quick ratio of 4.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.55. PTC Therapeutics has a fifty-two week low of $14.87 and a fifty-two week high of $52.95.

PTCT has been the subject of several research reports. Credit Suisse Group set a $55.00 target price on shares of PTC Therapeutics and gave the company a “buy” rating in a report on Wednesday, October 3rd. Cantor Fitzgerald initiated coverage on shares of PTC Therapeutics in a report on Monday, October 1st. They issued an “overweight” rating and a $66.00 target price for the company. William Blair reiterated a “buy” rating on shares of PTC Therapeutics in a report on Wednesday, October 3rd. ValuEngine downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating in a report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $46.25.

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About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.

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Earnings History for PTC Therapeutics (NASDAQ:PTCT)

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