PTC Therapeutics (PTCT) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $-1.22 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-1.25. The company posted revenue of $18.90 million in the period, compared to analysts expectations of $13.76 million. The company’s revenue was up 152.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.15 EPS.
Many Wall Street Analysts have commented on PTC Therapeutics. Shares were Downgraded by Wedbush on Mar 1, 2016 to ” Neutral” and Lowered the Price Target to $ 11 from a previous price target of $27 .Shares were Reiterated by Barclays on Mar 1, 2016 to “Overweight” and Lowered the Price Target to $ 40 from a previous price target of $100 .Shares were Reiterated by RBC Capital Mkts on Mar 1, 2016 to “Sector Perform” and Lowered the Price Target to $ 9 from a previous price target of $11 .
PTC Therapeutics closed down -0.73 points or -9.48% at $6.97 with 12,74,812 shares getting traded on Wednesday. Post opening the session at $7.66, the shares hit an intraday low of $6.92 and an intraday high of $7.79 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Mar 7, 2016, Mark Rothera (Chief Commercial Officer) purchased 2,000 shares at $6.23 per share price. According to the SEC, on Jul 6, 2015, David P Southwell (director) sold 23,604 shares at $47.86 per share price. On Jun 19, 2015, Allan Steven Jacobson (director) sold 5,000 shares at $50.13 per share price, according to the Form-4 filing with the securities and exchange commission.
PTC Therapeutics Inc. is a biopharmaceutical company focused on the discovery development and commercialization of orally administered small molecule therapeutics that target post-transcriptional control processes. The Companys internally discovered pipeline addresses multiple therapeutic areas including rare disorders oncology and infectious diseases. The Companys lead product Translarna (ataluren) is used for the treatment of genetic disorders due to a nonsense mutation in ambulatory patients aged five years and older. Ataluren is in clinical development for the treatment of Duchenne muscular dystrophy caused by a nonsense mutation (nmDMD) and cystic fibrosis caused by a nonsense mutation (nmCF).