PTC Therapeutics (PTCT) Expected to Announce Earnings on Thursday

PTC Therapeutics (NASDAQ:PTCT) is expected to post its quarterly earnings results after the market closes on Thursday, February 27th. Analysts expect PTC Therapeutics to post earnings of ($1.12) per share and revenue of $248.99 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

PTC Therapeutics Stock Performance

PTCT opened at $50.02 on Tuesday. PTC Therapeutics has a 52-week low of $24.00 and a 52-week high of $54.16. The firm has a market cap of $3.86 billion, a P/E ratio of -8.42 and a beta of 0.62. The business’s fifty day moving average is $46.70 and its 200-day moving average is $41.75.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PTCT shares. UBS Group increased their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Barclays boosted their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada increased their target price on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Citigroup boosted their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.85.

Insider Activity

In other PTC Therapeutics news, CAO Christine Marie Utter sold 17,800 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $51.77, for a total value of $921,506.00. Following the completion of the transaction, the chief accounting officer now directly owns 52,428 shares of the company’s stock, valued at $2,714,197.56. This trade represents a 25.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Pierre Gravier sold 1,168 shares of PTC Therapeutics stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $58,516.80. Following the sale, the chief financial officer now directly owns 75,603 shares of the company’s stock, valued at $3,787,710.30. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,590 shares of company stock valued at $11,264,023 over the last quarter. Company insiders own 5.50% of the company’s stock.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.