PTC Therapeutics, Inc. (NASDAQ:PTCT) Announces Quarterly Earnings Results
PTC Therapeutics, Inc. (NASDAQ:PTCT) issued its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.89) by $0.45, Briefing.com reports. The firm had revenue of $47.96 million during the quarter, compared to the consensus estimate of $28.78 million. PTC Therapeutics had a negative net margin of 143.80% and a negative return on equity of 98.77%. The business’s revenue for the quarter was up 206.9% compared to the same quarter last year. During the same period last year, the business posted ($1.14) earnings per share.
Shares of PTC Therapeutics (PTCT) traded up 2.068% on Wednesday, reaching $19.495. 1,685,757 shares of the company were exchanged. The firm has a 50 day moving average price of $19.20 and a 200-day moving average price of $13.94. PTC Therapeutics has a 12-month low of $4.03 and a 12-month high of $21.85. The stock’s market capitalization is $668.99 million.
A number of research firms have recently weighed in on PTCT. BidaskClub downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Citigroup Inc. reiterated a “buy” rating and issued a $17.00 price target (down from $28.00) on shares of PTC Therapeutics in a research report on Thursday, July 20th. Zacks Investment Research upgraded shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $21.00 price target (up from $15.00) on shares of PTC Therapeutics in a research report on Friday, June 30th. Finally, Royal Bank Of Canada set a $12.00 price target on shares of PTC Therapeutics and gave the company a “hold” rating in a research report on Monday, May 8th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. PTC Therapeutics currently has an average rating of “Hold” and an average target price of $15.11.
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In other news, Director Dawn Svoronos bought 25,000 shares of the stock in a transaction on Tuesday, May 23rd. The shares were acquired at an average cost of $13.49 per share, for a total transaction of $337,250.00. Following the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $337,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in PTC Therapeutics during the fourth quarter valued at about $403,000. Teachers Advisors LLC boosted its stake in PTC Therapeutics by 426.1% in the fourth quarter. Teachers Advisors LLC now owns 275,371 shares of the biopharmaceutical company’s stock valued at $3,004,000 after buying an additional 223,033 shares in the last quarter. American International Group Inc. boosted its stake in PTC Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 20,480 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 1,355 shares in the last quarter. AXA purchased a new stake in PTC Therapeutics during the first quarter valued at about $103,000. Finally, Camber Capital Management LLC purchased a new stake in PTC Therapeutics during the first quarter valued at about $12,300,000. Institutional investors and hedge funds own 77.00% of the company’s stock.
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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