PTC Therapeutics, Inc. (NASDAQ:PTCT) Announces Quarterly Earnings Results

PTC Therapeutics, Inc. (NASDAQ:PTCT) announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.45, Briefing.com reports. The business had revenue of $47.96 million for the quarter, compared to the consensus estimate of $28.78 million. PTC Therapeutics had a negative return on equity of 81.84% and a negative net margin of 88.43%. PTC Therapeutics’s revenue was up 206.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.14) EPS.

Shares of PTC Therapeutics (NASDAQ:PTCT) traded down 0.34% during mid-day trading on Friday, hitting $17.50. 586,946 shares of the company’s stock traded hands. The firm has a 50-day moving average of $19.40 and a 200 day moving average of $14.28. The company’s market cap is $722.82 million. PTC Therapeutics has a 52 week low of $4.03 and a 52 week high of $21.85.

In other PTC Therapeutics news, Director Dawn Svoronos purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were bought at an average price of $13.49 per share, for a total transaction of $337,250.00. Following the completion of the acquisition, the director now owns 25,000 shares in the company, valued at $337,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.10% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. AXA acquired a new position in shares of PTC Therapeutics during the first quarter worth approximately $103,000. Nisa Investment Advisors LLC acquired a new position in shares of PTC Therapeutics during the second quarter worth approximately $125,000. Public Employees Retirement System of Ohio acquired a new position in shares of PTC Therapeutics during the second quarter worth approximately $142,000. Janney Montgomery Scott LLC acquired a new position in shares of PTC Therapeutics during the first quarter worth approximately $163,000. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of PTC Therapeutics during the first quarter worth approximately $187,000. Institutional investors own 76.12% of the company’s stock.

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Several research firms have issued reports on PTCT. Royal Bank Of Canada set a $12.00 price objective on PTC Therapeutics and gave the stock a “hold” rating in a report on Monday, May 8th. BidaskClub downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research downgraded PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $21.00 price objective (up previously from $15.00) on shares of PTC Therapeutics in a report on Friday, June 30th. Finally, Citigroup Inc. set a $18.00 price objective on PTC Therapeutics and gave the stock a “buy” rating in a report on Wednesday, June 7th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. PTC Therapeutics has an average rating of “Hold” and a consensus price target of $15.11.

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.

Earnings History for PTC Therapeutics (NASDAQ:PTCT)

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