PTC Therapeutics (NASDAQ:PTCT) Releases Quarterly Earnings Results, Misses Estimates By $1.30 EPS

PTC Therapeutics (NASDAQ:PTCT) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($1.30), Zacks reports. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.

PTC Therapeutics Stock Up 1.4%

Shares of PTCT traded up $0.97 during midday trading on Thursday, reaching $69.90. The company had a trading volume of 961,214 shares, compared to its average volume of 1,251,958. PTC Therapeutics has a 1-year low of $35.95 and a 1-year high of $87.50. The firm has a 50 day simple moving average of $75.12 and a 200-day simple moving average of $67.76. The stock has a market cap of $5.61 billion, a PE ratio of 8.17 and a beta of 0.48.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PTCT. Citigroup lifted their price target on shares of PTC Therapeutics from $50.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. TD Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. The Goldman Sachs Group upped their price target on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th. Morgan Stanley reiterated an “overweight” rating and issued a $90.00 price objective on shares of PTC Therapeutics in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Insider Transactions at PTC Therapeutics

In other news, insider Eric Pauwels sold 1,024 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $78.70, for a total transaction of $80,588.80. Following the completion of the sale, the insider owned 80,141 shares in the company, valued at $6,307,096.70. This trade represents a 1.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark Elliott Boulding sold 2,314 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $77.93, for a total transaction of $180,330.02. Following the sale, the vice president owned 111,312 shares of the company’s stock, valued at $8,674,544.16. This represents a 2.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 280,871 shares of company stock valued at $22,290,337 in the last three months. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTCT. IFP Advisors Inc raised its position in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares during the period. Virtus Investment Advisers LLC increased its position in shares of PTC Therapeutics by 3.6% during the 4th quarter. Virtus Investment Advisers LLC now owns 9,033 shares of the biopharmaceutical company’s stock worth $686,000 after purchasing an additional 316 shares during the last quarter. UMB Bank n.a. purchased a new stake in PTC Therapeutics in the 4th quarter valued at about $26,000. Mariner LLC lifted its position in PTC Therapeutics by 5.1% in the third quarter. Mariner LLC now owns 8,745 shares of the biopharmaceutical company’s stock valued at $537,000 after buying an additional 426 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in PTC Therapeutics by 96.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 921 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 452 shares during the last quarter.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.