William Blair Lifts Earnings Estimates for PTC Therapeutics

PTC Therapeutics, Inc. (NASDAQ:PTCT) – Investment analysts at William Blair lifted their FY2024 earnings estimates for PTC Therapeutics in a report released on Monday, January 13th. William Blair analyst S. Corwin now expects that the biopharmaceutical company will post earnings per share of ($5.33) for the year, up from their previous 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.

PTCT has been the topic of a number of other research reports. Citigroup upped their target price on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group lifted their target price on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $67.00 in a report on Friday, December 13th. Finally, Barclays increased their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Three 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 company presently has a consensus rating of “Hold” and an average target price of $55.00.

PTC Therapeutics Trading Up 1.9 %

Shares of PTC Therapeutics stock opened at $43.08 on Thursday. PTC Therapeutics has a 1 year low of $23.58 and a 1 year high of $54.16. The company has a market cap of $3.32 billion, a P/E ratio of -7.25 and a beta of 0.62. The stock has a 50-day moving average price of $45.27 and a 200 day moving average price of $38.69.

Institutional Investors Weigh In On PTC Therapeutics

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

Insider Activity at PTC Therapeutics

In other news, CAO Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $51.77, for a total transaction of $921,506.00. Following the sale, the chief accounting officer now directly owns 52,428 shares in the company, valued at approximately $2,714,197.56. The trade was a 25.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerome B. Zeldis sold 24,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $51.50, for a total transaction of $1,236,000.00. Following the completion of the transaction, the director now directly owns 14,500 shares of the company’s stock, valued at $746,750. This trade represents a 62.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 211,737 shares of company stock worth $10,920,687 over the last three months. 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.