PTC Therapeutics (PTCT) Releases Quarterly Earnings Results, Misses Expectations By $0.66 EPS

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PTC Therapeutics (NASDAQ:PTCT) released its quarterly earnings data on Monday. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.66), Briefing.com reports. The firm had revenue of $53.59 million for the quarter, compared to analysts’ expectations of $70.56 million. PTC Therapeutics had a negative return on equity of 27.41% and a negative net margin of 25.03%. PTC Therapeutics’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period last year, the firm posted ($0.82) earnings per share.

PTCT traded up $1.64 on Wednesday, reaching $36.40. The company had a trading volume of 24,576 shares, compared to its average volume of 650,531. PTC Therapeutics has a 1 year low of $14.87 and a 1 year high of $52.95. The stock has a market cap of $1.99 billion, a PE ratio of -18.02 and a beta of 2.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.34 and a quick ratio of 4.18.

PTCT has been the subject of several recent analyst reports. Credit Suisse Group set a $55.00 price objective on shares of PTC Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, October 3rd. Cantor Fitzgerald assumed coverage on shares of PTC Therapeutics in a research report on Monday, October 1st. They issued an “overweight” rating and a $66.00 price target for the company. William Blair reissued a “buy” rating on shares of PTC Therapeutics in a research report on Wednesday, October 3rd. ValuEngine cut shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. PTC Therapeutics currently has an average rating of “Buy” and a consensus target price of $46.25.

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PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.

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Earnings History for PTC Therapeutics (NASDAQ:PTCT)

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