PTC Therapeutics (NASDAQ:PTCT) Stock, Quote.Headers.trade-ideas

PTC Therapeutics

PTC Therapeutics Inc is a biopharmaceutical company focused on the discovery, development, and commercialization of orally administered, small-molecule therapeutics. Its target area is RNA biology post-transcriptional control processes of the events occurring in a cell when an RNA messenger is copied from DNA during the transcription process. The discovered products address multiple therapeutic areas, including rare disorders, such as nonsense mutations in Duchenne muscular dystrophy and oncology.

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Nike, Accolade And Other Big Stocks Moving Lower In Friday&#39;s Pre-Market Session

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General

PTC Therapeutics released interim results from its Phase 2 PIVOT-HD study on PTC518 for Huntington&#39;s disease. The FDA has lifted the partial clinical hold on the program.

PTC Therapeutics Says FDA Lifts Clinical Hold On Investigational Study In Patients With Rare Weak Nerve Cell Disorder

PTC Therapeutics Inc

Cantor Fitzgerald analyst Kristen Kluska reiterates PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) with a Overweight and maintains $64 price target.

Price Target

Reiteration

Analyst Ratings

Cantor Fitzgerald Reiterates Overweight on PTC Therapeutics, Maintains $64 Price Target

Baird analyst Joel Beatty initiates coverage on PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) with a Outperform rating and announces Price Target of $44.

Initiation

Baird Initiates Coverage On PTC Therapeutics with Outperform Rating, Announces Price Target of $44

Cantor Fitzgerald analyst Kristen Kluska maintains PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) with a Overweight and raises the price target from $62 to $64.

Cantor Fitzgerald Maintains Overweight on PTC Therapeutics, Raises Price Target to $64

Barclays analyst Gena Wang maintains PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) with a Equal-Weight and raises the price target from $25 to $31.

Barclays Maintains Equal-Weight on PTC Therapeutics, Raises Price Target to $31

PTC Updates Full Year 2024 Financial Guidance:&nbsp;
<ul>
<li>PTC anticipates total revenues for full year 2024 to be between $700 million and $750 million.</li>
<li>PTC anticipates GAAP R&amp;D and SG&amp;A expenses for full year 2024 to be between $740 million and $835 million, including expected R&amp;D expense milestone payments of up to $65 million.</li>
<li>PTC anticipates Non-GAAP R&amp;D and SG&amp;A expenses for full year 2024 to be between $660 million and $755 million, including expected R&amp;D expense milestone payments of up to $65 million and excluding estimated non-cash, stock-based compensation expense of $80 million.</li>
<li>PTC anticipates up to $90 million of payments for full year 2024 upon achievement of potential regulatory success-based milestones from previous acquisitions, of which up to $65 million will be recorded as R&amp;D operating expenses. As of June 30, 2024, $35 million in milestones have been achieved, of which $15 million has been recorded as R&amp;D operating expenses and $20 million as contingent consideration payable.</li>
</ul>

Guidance

PTC Sees FY24 Revenue $700M-$750M Vs $749M Estimate

PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) reported quarterly losses of $(1.29) per share which missed the analyst consensus estimate of $(1.19) by 8.4 percent. The company reported quarterly sales of $186.704 million which beat the analyst consensus estimate of $185.319 million by 0.75 percent. This is a 12.68 percent decrease over sales of $213.808 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

PTC Therapeutics Q2 2024 GAAP EPS $(1.29) Misses $(1.19) Estimate, Sales $186.704M Beat $185.319M Estimate

PTC Therapeutics Submits Sepiapterin NDA To FDA For Treatment Of Pediatric And Adult Phenylketonuria (PKU) Patients

Cantor Fitzgerald analyst Kristen Kluska reiterates PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) with a Overweight and maintains $62 price target.

Cantor Fitzgerald Reiterates Overweight on PTC Therapeutics, Maintains $62 Price Target

Morgan Stanley analyst Jeffrey Hung maintains PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) with a Equal-Weight and raises the price target from $30 to $32.

Morgan Stanley Maintains Equal-Weight on PTC Therapeutics, Raises Price Target to $32

WIIM

PTC Therapeutics shares are trading higher following a report suggesting that the company requested a re-examination of the EMA's June 2024 opinion.

Global

EMA Says Company For Translarna Has Requested A Re-Examination Of EMA's June 2024 Opinion

Cantor Fitzgerald analyst Kristen Kluska maintains PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) with a Overweight and raises the price target from $52 to $62.

Cantor Fitzgerald Maintains Overweight on PTC Therapeutics, Raises Price Target to $62

PTC Therapeutics shares are trading lower after the CHMP issued a negative opinion on Translarna following the European Commission's request for review.

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 0.2% on Friday.
Shares of NIKE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) fell sharply in today's pre-market trading following fourth-quarter earnings and <a href="https://www.benzinga.com/news/earnings/24/06/39536852/nike-q4-earnings-highlights-revenue-miss-eps-beat-taking-our-near-term-challenges-head-on">soft FY25 guidance.</a>
Analysts at Stifel and Morgan Stanley downgraded the stock following the report.
NIKE shares dipped 15.6% to $79.42 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Accolade, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACCD#NASDAQ">ACCD</a>) shares tumbled 32.1% to $4.34 in pre-market trading after the company reported first-quarter financial results and issued worse-than-expected FY25 revenue guidance. Also, Needham maintained a Buy rating on the stock but lowered its price target from $13 to $8.</li>
<li>PTC Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) shares slipped 13.5% to $30.00 in pre-market trading after the company said CHMP has issued negative opinion on renewal of conditional marketing authorization of Translarna (Ataluren) for the treatment of nmDMD.</li>
<li>Kura Sushi USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRUS#NASDAQ">KRUS</a>) shares declined 12.4% to $72.00 in pre-market trading after the company issued soft guidance.</li>
<li>Rocket Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCKT#NASDAQ">RCKT</a>) shares fell 12.4% to $18.75 in pre-market trading. The company announced the FDA issued a Complete Response Letter for the License Application For KRESLADI and requested limited additional Chemistry Manufacturing and Controls information to complete its review.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) fell 7.7% to $0.7613 in pre-market trading after the company published full year 2023 results.</li>
<li>Foot Locker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) shares fell 5.3% to $24.16 in pre-market trading.</li>
<li>Apellis Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) shares declined 4.1% to $39.84 in pre-market trading. Apellis plans to seek re-examination following negative CHMP opinion for pegcetacoplan for geographic atrophy (GA) in the EU.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38311966/izea-worldwide-and-2-other-stocks-under-3-insiders-are-buying">IZEA Worldwide And 2 Other Stocks Under $3 Insiders Are Buying</a> 
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

Nike, Accolade And Other Big Stocks Moving Lower In Friday's Pre-Market Session

PTC Therapeutics Says CHMP Has Issued Negative Opinion On Renewal Of Conditional Marketing Authorization Of Translarna (Ataluren) For The Treatment Of nmDMD; Opinion Follows Return Of Previously Issued Negative Opinion By European Commission For Re-review

U.S. stocks were mixed, with the Dow Jones index gaining around 50 points on Friday.
Shares of Asana, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) rose sharply during Friday's session after the company announced a $150 million share repurchase program and <a href="https://www.benzinga.com/news/24/06/39422750/asana-announces-150-million-stock-buyback-what-to-know">reaffirmed its forward guidance</a>.
Asana said its board of directors approved a stock repurchase program authorizing the company to repurchase up to $150 million of its Class A common stock through June 30, 2025.
Asana shares jumped 13.4% to $12.90 on Friday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Sarepta Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) shares jumped 39.2% to $171.89 after the company announced FDA approval of an expansion to the labeled indication for ELEVIDYS to include individuals with Duchenne muscular dystrophy with a confirmed mutation in the DMD gene who are at least 4 years of age. Also, multiple firms raised their respective price targets on the stock.</li>
<li>Clover Health Investments, Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOV#NASDAQ">CLOV</a>) shares gained 31% to $1.35 following insider buying from the company's co-founder. After the market close on Thursday, Clover Health filed a Form 4 with the SEC showing that co-founder and executive chair Vivek Garipalli purchased 877,567 shares of Clover Health stock at an average price of $1.14 per share.</li>
<li>Avid Bioservices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDMO#NASDAQ">CDMO</a>) climbed 13.7% to $7.75.</li>
<li>Cabaletta Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CABA#NASDAQ">CABA</a>) rose 9.1% to $9.09.</li>
<li>ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>) climbed 8.7% to $5.65</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) gained 8.6% to $3.8150. The company revealed the upsize and pricing of $1 billion offerings, which comprised $750 million of First Lien Senior Secured Notes, which represents an upsize from the previously announced $500 million.</li>
<li>Studio City International Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSC#NYSE">MSC</a>) rose 8% to $6.75.</li>
<li>Codere Online Luxembourg, S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDRO#NASDAQ">CDRO</a>) gained 7.6% to $7.80.</li>
<li>Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) jumped 7.1% to $10.74.</li>
<li>Ironwood Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) gained 6.5% to $5.94. Ironwood Pharmaceuticals named Sravan K. Emany as Senior Vice President, Chief Operating Officer, and Chief Financial Officer.</li>
<li>Enviri Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVRI#NYSE">NVRI</a>) rose 6% to $8.86.</li>
<li>PTC Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) gained 5.4% to $35.08. B of A Securities analyst Tazeen Ahmad maintained PTC Therapeutics with an Underperform and raised the price target from $25 to $32.</li>
<li>Spirit AeroSystems Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPR#NYSE">SPR</a>) rose 4.8% to $33.19. Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) is reportedly close to finalizing a deal to reacquire Spirit AeroSystems, its former subsidiary, following significant progress in separate negotiations between Spirit and Airbus SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EADSY#OTC">EADSY</a>) to divide Spirit's projects between the two aerospace giants.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/06/39432562/wall-streets-most-accurate-analysts-spotlight-on-3-tech-and-telecom-stocks-delivering-high-dividend">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Tech And Telecom Stocks Delivering High-Dividend Yields</a>

B of A Securities analyst Tazeen Ahmad maintains PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) with a Underperform and raises the price target from $25 to $32.

B of A Securities Maintains Underperform on PTC Therapeutics, Raises Price Target to $32

JP Morgan analyst Eric Joseph maintains PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) with a Overweight and maintains $53 price target.

JP Morgan Maintains Overweight on PTC Therapeutics, Maintains $53 Price Target

Analysts have been eager to weigh in on the Healthcare sector with new ratings on Cytokinetics (CYTK – Research Report), Doximity (DOCS – Research ...

Analysts Conflicted on These Healthcare Names: Cytokinetics (CYTK), Doximity (DOCS) and PTC Therapeutics (PTCT)

William Blair analyst Sami Corwin maintained a Buy rating on PTC Therapeutics (PTCT – Research Report) today. The company's shares closed yesterday...

William Blair Reaffirms Their Buy Rating on PTC Therapeutics (PTCT)

Analyst David Lebovitz of Citi maintained a Sell rating on PTC Therapeutics (PTCT – Research Report), retaining the price target of $26.00. David L...

PTC Therapeutics: Sell Rating Due to DMD Franchise Challenges and Pipeline Uncertainties

In a report released yesterday, Kristen Kluska from Cantor Fitzgerald maintained a Buy rating on PTC Therapeutics (PTCT – Research Report), with a ...

Cantor Fitzgerald Reaffirms Their Buy Rating on PTC Therapeutics (PTCT)

Morgan Stanley analyst Jeffrey Hung maintained a Hold rating on PTC Therapeutics (PTCT – Research Report) today and set a price target of $32.00. T...

Morgan Stanley Keeps Their Hold Rating on PTC Therapeutics (PTCT)

PTC Therapeutics, Inc. (PTCT) Q2 2024 Earnings Call Transcript

In a report released yesterday, Joseph Schwartz from Leerink Partners reiterated a Hold rating on PTC Therapeutics (PTCT – Research Report), with a...

PTC Therapeutics: Balancing Strong FY24 Guidance Against Regulatory Uncertainties

PTC Therapeutics rises as UBS restarts coverage with buy rating

PTC Therapeutics: Positive HD Data Along With NDA Submission Brings Further Value

Cantor Fitzgerald analyst Kristen Kluska maintained a Buy rating on PTC Therapeutics (PTCT – Research Report) yesterday and set a price target of $...

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PTC Therapeutics

PTC Therapeutics (PTCT) Forecast

PTC Therapeutics (NASDAQ:PTCT) Stock, Quote.Headers.trade-ideas