PTC Therapeutics (NASDAQ:PTCT) Announces Quarterly Earnings Results, Beats Expectations By $1.39 EPS

PTC Therapeutics (NASDAQ:PTCT) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of ($1.19) by $1.39, Zacks reports. The business had revenue of $211.01 million for the quarter, compared to analyst estimates of $177.42 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.PTC Therapeutics’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.39) EPS. PTC Therapeutics updated its FY 2025 guidance to EPS.

PTC Therapeutics Stock Down 0.3%

Shares of PTCT opened at $67.72 on Wednesday. The stock’s fifty day simple moving average is $61.96 and its 200-day simple moving average is $53.17. The firm has a market capitalization of $5.38 billion, a PE ratio of 9.72 and a beta of 0.55. PTC Therapeutics has a 12-month low of $35.95 and a 12-month high of $69.88.

Insider Buying and Selling

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 3,375 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $63.43, for a total value of $214,076.25. Following the completion of the sale, the vice president directly owned 103,901 shares in the company, valued at $6,590,440.43. This represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan Steven Jacobson sold 12,000 shares of the stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $65.00, for a total value of $780,000.00. Following the completion of the sale, the director owned 17,451 shares of the company’s stock, valued at $1,134,315. This trade represents a 40.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 254,662 shares of company stock worth $16,000,821. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in shares of PTC Therapeutics during the second quarter worth about $453,000. CANADA LIFE ASSURANCE Co increased its position in shares of PTC Therapeutics by 8.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 21,793 shares of the biopharmaceutical company’s stock worth $1,065,000 after purchasing an additional 1,755 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of PTC Therapeutics by 331.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,309 shares of the biopharmaceutical company’s stock worth $357,000 after purchasing an additional 5,615 shares during the last quarter. LGL Partners LLC increased its holdings in shares of PTC Therapeutics by 33.3% during the 2nd quarter. LGL Partners LLC now owns 16,000 shares of the biopharmaceutical company’s stock worth $806,000 after acquiring an additional 4,000 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its holdings in shares of PTC Therapeutics by 104.3% during the 2nd quarter. E Fund Management Co. Ltd. now owns 10,898 shares of the biopharmaceutical company’s stock worth $532,000 after acquiring an additional 5,564 shares during the last quarter.

Analysts Set New Price Targets

Several analysts recently commented on PTCT shares. Truist Financial boosted their price target on PTC Therapeutics from $80.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. UBS Group boosted their price target on PTC Therapeutics from $71.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Wall Street Zen lowered PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. Robert W. Baird set a $70.00 price target on PTC Therapeutics in a research note on Friday, August 8th. Finally, Bank of America decreased their price target on PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Ten investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.57.

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.