PTC Therapeutics, Inc. (NASDAQ:PTCT) – Analysts at William Blair upped their FY2017 earnings per share estimates for shares of PTC Therapeutics in a research note issued to investors on Monday. William Blair analyst R. Prasad now anticipates that the biopharmaceutical company will post earnings of ($2.00) per share for the year, up from their previous estimate of ($2.25). William Blair also issued estimates for PTC Therapeutics’ Q4 2017 earnings at $0.10 EPS, Q1 2018 earnings at ($0.30) EPS, Q2 2018 earnings at ($0.27) EPS, Q3 2018 earnings at ($0.25) EPS, Q4 2018 earnings at ($0.23) EPS and FY2018 earnings at ($1.03) EPS.
PTCT has been the subject of several other reports. Zacks Investment Research downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. JPMorgan Chase & Co. lifted their price objective on shares of PTC Therapeutics to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 24th. Bank of America downgraded shares of PTC Therapeutics from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 26th. ValuEngine upgraded shares of PTC Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Finally, Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.14.
In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,230 shares of PTC Therapeutics stock in a transaction on Friday, January 5th. The shares were sold at an average price of $18.03, for a total value of $40,206.90. Following the completion of the transaction, the chief executive officer now owns 26,646 shares of the company’s stock, valued at $480,427.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 2,719 shares of company stock valued at $48,848 in the last ninety days. 8.10% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in shares of PTC Therapeutics by 8.5% during the second quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock worth $11,275,000 after purchasing an additional 48,308 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in PTC Therapeutics by 75.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 42,593 shares of the biopharmaceutical company’s stock valued at $781,000 after acquiring an additional 18,273 shares in the last quarter. New York State Common Retirement Fund grew its stake in PTC Therapeutics by 56.3% during the 2nd quarter. New York State Common Retirement Fund now owns 50,650 shares of the biopharmaceutical company’s stock valued at $928,000 after acquiring an additional 18,249 shares in the last quarter. Vanguard Group Inc. grew its stake in PTC Therapeutics by 17.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock valued at $43,379,000 after acquiring an additional 346,525 shares in the last quarter. Finally, Nomura Holdings Inc. grew its stake in PTC Therapeutics by 28.7% during the 2nd quarter. Nomura Holdings Inc. now owns 50,672 shares of the biopharmaceutical company’s stock valued at $928,000 after acquiring an additional 11,300 shares in the last quarter. 86.12% of the stock is owned by institutional investors and hedge funds.
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About PTC Therapeutics
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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