PTC Therapeutics (NASDAQ: PTCT) recently released its quarterly earnings report, providing insight into the company’s financial performance. The biopharmaceutical company reported an earnings per share (EPS) of ($2.66) for the quarter, falling short of the consensus estimate of ($1.58). This difference amounted to ($1.08) below expectations.
In terms of revenue, PTC Therapeutics generated $213.80 million during the quarter, surpassing analysts’ projections of $206.99 million. This represents a 29.2% increase in revenue compared to the same period last year when the company reported ($2.13) earnings per share.
Examining institutional activity surrounding PTC Therapeutics, there have been recent transactions involving shares by various investors. RTW Investments LP saw a 26.3% increase in holdings during the first quarter, adding an additional 1,477,911 shares valued at $343,599,000. Cowen AND Company LLC also acquired a new stake during the second quarter with a value of $32,516,000.
Furthermore, Norges Bank acquired a position in PTC Therapeutics during the previous year’s fourth quarter worth approximately $24,587,000. Armistice Capital LLC experienced a 17.1% boost in holdings and now owns 3,396,000 shares valued at $129,625,000 after purchasing an additional 496,000 shares in the last quarter.
State Street Corp has also increased its position in PTC Therapeutics by acquiring an additional 440,850 shares during the second quarter. With this transaction completed at a value of $145 million dollars on September 19th.
While these figures provide an overview of recent activity and financial results for PTC Therapeutics comparative data are essential to draw definitive conclusions about its performance within biopharmaceutical markets or investment potential for individual investors.
It is important to note that financial results can be influenced by a variety of factors, both internal and external. Competitors, market conditions, and regulatory changes are just a few variables that may impact the future success of PTC Therapeutics. Investors should exercise caution and veer away from making hasty decisions purely based on past performances or institutional trades.
In conclusion, PTC Therapeutics recently released its quarterly earnings report, which revealed an EPS of ($2.66), falling short of analysts’ estimate by ($1.08). However, the company’s revenue increased by 29.2% compared to the same quarter last year.
Several institutional investors made significant moves regarding PTC Therapeutics shares. These include RTW Investments LP raising its holdings by 26.3% in Q1 and State Street Corp acquiring an additional 440,850 shares during the second quarter.
As with any investment opportunity or biopharmaceutical company analysis, it is crucial for investors to conduct comprehensive research before making informed decisions. Taking into account all available information and considering potential market fluctuations will help minimize risks associated with any investment in PTC Therapeutics or similar entities.
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PTC Therapeutics Faces Earnings Cut and Mixed Ratings from Analysts
PTC Therapeutics, Inc. (NASDAQ: PTCT) recently faced a cut in its FY2027 earnings per share (EPS) estimates by Equities research analysts at Leerink Partners. This report, released on September 17th, suggests that the biopharmaceutical company’s earnings for the year will be $1.12 per share, down from the previously forecasted $1.21. The consensus estimate for PTC Therapeutics’ current full-year earnings is ($5.45) per share.
Several other brokerages have also evaluated PTCT’s performance lately. StockNews.com initiated their coverage on PTC Therapeutics with a “hold” rating for the company in their research note on August 17th. Meanwhile, Truist Financial reduced their price target from $60 to $45 and maintained a “buy” rating for the company.
Credit Suisse Group reaffirmed their “neutral” rating and set a price objective of $50 on shares of PTC Therapeutics in July. Similarly, SVB Leerink dropped their price target for PTCT from $44 to $30 in an analyst report released on Monday.
Citigroup adjusted their recommendation for PTC Therapeutics from a “buy” rating to a “neutral” rating and lowered the target price from $55 to $28 in another report issued recently. Currently, two analysts have rated the stock as a sell, eight suggest holding it, and three advise buying it.
Institutional investors have been actively buying and selling shares of PTC Therapeutics lately. For instance, RTW Investments LP increased its holdings in the company by 26.3% during the first quarter and now owns around 7,093,298 shares of PTCT valued at approximately $343 million.
Other notable buyers include Cowen AND Company LLC which acquired shares worth around $32 million during the second quarter and Norges Bank which purchased shares worth approximately $24.6 million in the fourth quarter. Armistice Capital LLC also increased its holdings by 17.1% during the same period, owning around 3,396,000 shares valued at $129.6 million.
State Street Corp witnessed a growth of 13.8% in their position during the second quarter and now holds around 3,624,877 shares valued at $145.2 million.
Shares of NASDAQ PTCT opened at $24.28 on Tuesday, with a 50-day moving average price of $39.26 and a 200-day moving average price of $44.80. The company’s stock experienced a 52-week low of $23.83 and reached its highest at $59.84. Presently, PTC Therapeutics has a market capitalization of approximately $1.83 billion, a price-to-earnings ratio of -2.88, and a beta of 0.37.
In other news related to PTC Therapeutics, Director Alethia Young recently sold 11,666 shares on September 6th for an average price of $39.86 per share, amounting to a total transaction value of $465,006.76. Following this transaction, Young now owns 9,067 shares worth approximately $361k.
The above information was disclosed via a document filed with the SEC and can be accessed through this hyperlink if further details are desired. Insiders currently hold approximately 5.30% stake in PTC Therapeutics’ stock.
Overall, these recent developments depict a complex situation for PTC Therapeutics as it faces revised earnings estimates and varied ratings from different research agencies and analysts alike.