What is Leerink Partnrs’ Forecast for PTCT FY2024 Earnings?

PTC Therapeutics, Inc. (NASDAQ:PTCTFree Report) – Equities research analysts at Leerink Partnrs raised their FY2024 earnings estimates for shares of PTC Therapeutics in a report issued on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now anticipates that the biopharmaceutical company will post earnings per share of ($4.90) for the year, up from their prior estimate of ($5.35). The consensus estimate for PTC Therapeutics’ current full-year earnings is ($4.75) per share. Leerink Partnrs also issued estimates for PTC Therapeutics’ Q4 2024 earnings at ($1.02) EPS, Q1 2025 earnings at ($1.55) EPS, Q2 2025 earnings at ($1.40) EPS, Q3 2025 earnings at ($1.22) EPS, Q4 2025 earnings at ($1.03) EPS, FY2025 earnings at ($5.48) EPS and FY2026 earnings at ($4.52) EPS.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) EPS for the quarter, topping the consensus estimate of ($1.54) by $0.15. The firm had revenue of $196.79 million for the quarter, compared to analysts’ expectations of $173.51 million. During the same quarter in the prior year, the business earned ($1.76) earnings per share.

Several other research analysts have also commented on PTCT. Robert W. Baird raised their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Barclays raised their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Morgan Stanley raised PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. JPMorgan Chase & Co. lifted their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada upgraded PTC Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $39.00 to $63.00 in a report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $55.00.

Read Our Latest Stock Report on PTCT

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $45.08 on Wednesday. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -7.59 and a beta of 0.62. The business has a 50-day moving average of $45.25 and a 200 day moving average of $39.09. PTC Therapeutics has a 12 month low of $23.58 and a 12 month high of $54.16.

Insider Activity

In other PTC Therapeutics news, CEO Matthew B. Klein sold 8,279 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total value of $373,879.64. Following the completion of the sale, the chief executive officer now owns 217,528 shares in the company, valued at approximately $9,823,564.48. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christine Marie Utter sold 17,800 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 52,428 shares of the company’s stock, valued at $2,714,197.56. The trade was a 25.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 211,737 shares of company stock worth $10,920,687. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. KBC Group NV grew its holdings in shares of 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. CWM LLC lifted its position in PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 492 shares during the last quarter. Quarry LP increased its holdings in shares of PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 2,500 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of PTC Therapeutics by 8.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock worth $269,000 after purchasing an additional 455 shares during the last quarter.

PTC Therapeutics Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for PTC Therapeutics (NASDAQ:PTCT)

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