William Blair Boosts Earnings Estimates for PTC Therapeutics

PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) - Research analysts at William Blair boosted their FY2024 EPS estimates for PTC Therapeutics in a report released on Monday, January 13th. William Blair analyst S. Corwin now expects that the biopharmaceutical company will earn ($5.33) per share for the year, up from their prior forecast of ($5.48). The consensus estimate for PTC Therapeutics' current full-year earnings is ($4.90) per share. William Blair also issued estimates for PTC Therapeutics' Q4 2024 earnings at ($1.45) EPS, Q1 2025 earnings at ($1.52) EPS, Q2 2025 earnings at ($1.36) EPS, Q3 2025 earnings at ($0.97) EPS, Q4 2025 earnings at ($0.69) EPS and FY2025 earnings at ($4.54) EPS.

A number of other equities analysts have also recently issued reports on PTCT. Wells Fargo & Company boosted 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. Citigroup boosted their target price on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a "sell" rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised shares of PTC Therapeutics from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $39.00 to $63.00 in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price objective on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, November 19th. Finally, Raymond James initiated coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They issued a "market perform" rating on the stock. Three equities 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $55.00.

PTC Therapeutics Trading Up 1.9 %

NASDAQ:PTCT traded up $0.81 during midday trading on Thursday, hitting $43.08. 463,997 shares of the company traded hands, compared to its average volume of 577,470. The firm's fifty day moving average is $45.27 and its 200-day moving average is $38.69. The firm has a market capitalization of $3.32 billion, a P/E ratio of -7.25 and a beta of 0.62. PTC Therapeutics has a 12-month low of $23.58 and a 12-month high of $54.16.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Choreo LLC increased its position in shares of PTC Therapeutics by 4.1% during the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company's stock worth $356,000 after purchasing an additional 452 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company's stock worth $104,000 after buying an additional 492 shares in the last quarter. KBC Group NV raised its position in shares of PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock valued at $83,000 after buying an additional 504 shares during the last quarter. Creative Planning raised its position in shares of PTC Therapeutics by 8.1% in the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company's stock valued at $406,000 after buying an additional 816 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PTC Therapeutics by 6.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,413 shares of the biopharmaceutical company's stock worth $572,000 after acquiring an additional 884 shares during the last quarter.

Insiders Place Their Bets

In related news, CAO Christine Marie Utter sold 1,291 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $58,533.94. Following the completion of the transaction, the chief accounting officer now owns 65,983 shares in the company, valued at $2,991,669.22. This represents a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerome B. Zeldis sold 24,000 shares of PTC Therapeutics stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $51.50, for a total value of $1,236,000.00. Following the completion of the sale, the director now owns 14,500 shares in the company, valued at approximately $746,750. The trade was a 62.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 211,737 shares of company stock worth $10,920,687. 5.50% of the stock is owned by corporate insiders.

PTC Therapeutics Company Profile

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.