Intrinsic value of PTC Therapeutics - PTCT

Previous Close

$17.50

  Intrinsic Value

$0.87

stock screener

  Rating & Target

str. sell

-95%

  Value-price divergence*

-143%

Previous close

$17.50

 
Intrinsic value

$0.87

 
Up/down potential

-95%

 
Rating

str. sell

 
Value-price divergence*

-143%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of PTCT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  124.32
  42.10
  38.39
  35.05
  32.05
  29.34
  26.91
  24.72
  22.74
  20.97
  19.37
  17.94
  16.64
  15.48
  14.43
  13.49
  12.64
  11.87
  11.19
  10.57
  10.01
  9.51
  9.06
  8.65
  8.29
  7.96
  7.66
  7.40
  7.16
  6.94
  6.75
Revenue, $m
  83
  118
  163
  220
  291
  376
  478
  596
  731
  885
  1,056
  1,246
  1,453
  1,678
  1,920
  2,179
  2,454
  2,746
  3,053
  3,375
  3,713
  4,067
  4,435
  4,819
  5,218
  5,633
  6,065
  6,514
  6,980
  7,465
  7,968
Variable operating expenses, $m
 
  131
  181
  244
  323
  417
  529
  660
  810
  980
  1,170
  1,380
  1,610
  1,859
  2,127
  2,414
  2,719
  3,042
  3,383
  3,740
  4,114
  4,506
  4,914
  5,339
  5,782
  6,242
  6,720
  7,217
  7,734
  8,271
  8,829
Fixed operating expenses, $m
 
  171
  175
  180
  184
  189
  194
  199
  203
  209
  214
  219
  225
  230
  236
  242
  248
  254
  260
  267
  274
  280
  288
  295
  302
  310
  317
  325
  333
  342
  350
Total operating expenses, $m
  215
  302
  356
  424
  507
  606
  723
  859
  1,013
  1,189
  1,384
  1,599
  1,835
  2,089
  2,363
  2,656
  2,967
  3,296
  3,643
  4,007
  4,388
  4,786
  5,202
  5,634
  6,084
  6,552
  7,037
  7,542
  8,067
  8,613
  9,179
Operating income, $m
  -132
  -184
  -193
  -204
  -216
  -230
  -245
  -263
  -282
  -304
  -328
  -354
  -382
  -411
  -443
  -477
  -513
  -551
  -590
  -632
  -675
  -720
  -766
  -815
  -866
  -918
  -972
  -1,029
  -1,087
  -1,148
  -1,211
EBITDA, $m
  -129
  -183
  -192
  -202
  -213
  -226
  -241
  -257
  -275
  -296
  -318
  -342
  -368
  -395
  -425
  -456
  -489
  -524
  -561
  -599
  -639
  -681
  -724
  -769
  -816
  -864
  -914
  -966
  -1,020
  -1,076
  -1,134
Interest expense (income), $m
  5
  5
  9
  13
  18
  25
  33
  43
  54
  67
  82
  98
  116
  136
  157
  180
  205
  231
  259
  288
  319
  351
  385
  420
  456
  494
  534
  575
  618
  662
  708
Earnings before tax, $m
  -142
  -189
  -202
  -216
  -234
  -255
  -278
  -306
  -337
  -371
  -409
  -452
  -497
  -547
  -600
  -657
  -718
  -782
  -849
  -920
  -993
  -1,071
  -1,151
  -1,235
  -1,322
  -1,412
  -1,506
  -1,604
  -1,705
  -1,810
  -1,919
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -142
  -189
  -202
  -216
  -234
  -255
  -278
  -306
  -337
  -371
  -409
  -452
  -497
  -547
  -600
  -657
  -718
  -782
  -849
  -920
  -993
  -1,071
  -1,151
  -1,235
  -1,322
  -1,412
  -1,506
  -1,604
  -1,705
  -1,810
  -1,919

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  232
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  269
  247
  341
  461
  609
  788
  1,000
  1,247
  1,530
  1,851
  2,210
  2,606
  3,040
  3,510
  4,017
  4,558
  5,134
  5,744
  6,387
  7,062
  7,769
  8,507
  9,278
  10,081
  10,917
  11,785
  12,689
  13,627
  14,603
  15,616
  16,670
Adjusted assets (=assets-cash), $m
  37
  247
  341
  461
  609
  788
  1,000
  1,247
  1,530
  1,851
  2,210
  2,606
  3,040
  3,510
  4,017
  4,558
  5,134
  5,744
  6,387
  7,062
  7,769
  8,507
  9,278
  10,081
  10,917
  11,785
  12,689
  13,627
  14,603
  15,616
  16,670
Revenue / Adjusted assets
  2.243
  0.478
  0.478
  0.477
  0.478
  0.477
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
Average production assets, $m
  8
  11
  16
  21
  28
  36
  46
  57
  70
  85
  101
  120
  139
  161
  184
  209
  236
  264
  293
  324
  356
  390
  426
  463
  501
  541
  582
  625
  670
  717
  765
Working capital, $m
  211
  -12
  -16
  -22
  -29
  -38
  -48
  -60
  -73
  -88
  -106
  -125
  -145
  -168
  -192
  -218
  -245
  -275
  -305
  -338
  -371
  -407
  -443
  -482
  -522
  -563
  -607
  -651
  -698
  -746
  -797
Total debt, $m
  98
  161
  242
  345
  472
  626
  808
  1,020
  1,263
  1,539
  1,847
  2,187
  2,560
  2,964
  3,399
  3,865
  4,359
  4,883
  5,435
  6,015
  6,622
  7,257
  7,919
  8,609
  9,326
  10,073
  10,849
  11,655
  12,493
  13,363
  14,268
Total liabilities, $m
  150
  212
  293
  396
  523
  677
  859
  1,071
  1,314
  1,590
  1,898
  2,238
  2,611
  3,015
  3,450
  3,916
  4,410
  4,934
  5,486
  6,066
  6,673
  7,308
  7,970
  8,660
  9,377
  10,124
  10,900
  11,706
  12,544
  13,414
  14,319
Total equity, $m
  120
  35
  48
  65
  86
  111
  141
  176
  216
  261
  312
  367
  429
  495
  566
  643
  724
  810
  901
  996
  1,095
  1,200
  1,308
  1,421
  1,539
  1,662
  1,789
  1,921
  2,059
  2,202
  2,350
Total liabilities and equity, $m
  270
  247
  341
  461
  609
  788
  1,000
  1,247
  1,530
  1,851
  2,210
  2,605
  3,040
  3,510
  4,016
  4,559
  5,134
  5,744
  6,387
  7,062
  7,768
  8,508
  9,278
  10,081
  10,916
  11,786
  12,689
  13,627
  14,603
  15,616
  16,669
Debt-to-equity ratio
  0.817
  4.630
  5.030
  5.310
  5.500
  5.630
  5.730
  5.800
  5.860
  5.900
  5.930
  5.950
  5.970
  5.990
  6.000
  6.010
  6.020
  6.030
  6.040
  6.040
  6.050
  6.050
  6.050
  6.060
  6.060
  6.060
  6.060
  6.070
  6.070
  6.070
  6.070
Adjusted equity ratio
  -3.027
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -142
  -189
  -202
  -216
  -234
  -255
  -278
  -306
  -337
  -371
  -409
  -452
  -497
  -547
  -600
  -657
  -718
  -782
  -849
  -920
  -993
  -1,071
  -1,151
  -1,235
  -1,322
  -1,412
  -1,506
  -1,604
  -1,705
  -1,810
  -1,919
Depreciation, amort., depletion, $m
  3
  1
  2
  2
  3
  4
  5
  6
  7
  8
  10
  12
  14
  16
  18
  21
  24
  26
  29
  32
  36
  39
  43
  46
  50
  54
  58
  63
  67
  72
  76
Funds from operations, $m
  -113
  -188
  -200
  -214
  -231
  -251
  -274
  -300
  -329
  -363
  -399
  -440
  -483
  -531
  -582
  -636
  -694
  -755
  -820
  -887
  -958
  -1,032
  -1,109
  -1,189
  -1,272
  -1,358
  -1,448
  -1,541
  -1,638
  -1,738
  -1,843
Change in working capital, $m
  -9
  -3
  -5
  -6
  -7
  -9
  -10
  -12
  -14
  -15
  -17
  -19
  -21
  -22
  -24
  -26
  -28
  -29
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -42
  -43
  -45
  -47
  -48
  -50
Cash from operations, $m
  -104
  -184
  -196
  -209
  -224
  -242
  -264
  -288
  -316
  -347
  -382
  -421
  -463
  -508
  -558
  -611
  -667
  -726
  -789
  -855
  -924
  -996
  -1,072
  -1,150
  -1,232
  -1,317
  -1,405
  -1,496
  -1,591
  -1,690
  -1,792
Maintenance CAPEX, $m
  0
  -1
  -1
  -2
  -2
  -3
  -4
  -5
  -6
  -7
  -8
  -10
  -12
  -14
  -16
  -18
  -21
  -24
  -26
  -29
  -32
  -36
  -39
  -43
  -46
  -50
  -54
  -58
  -63
  -67
  -72
New CAPEX, $m
  -2
  -3
  -4
  -5
  -7
  -8
  -10
  -11
  -13
  -15
  -16
  -18
  -20
  -22
  -23
  -25
  -26
  -28
  -29
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -41
  -43
  -45
  -47
  -48
Cash from investing activities, $m
  104
  -4
  -5
  -7
  -9
  -11
  -14
  -16
  -19
  -22
  -24
  -28
  -32
  -36
  -39
  -43
  -47
  -52
  -55
  -60
  -64
  -70
  -74
  -80
  -84
  -90
  -95
  -101
  -108
  -114
  -120
Free cash flow, $m
  0
  -189
  -201
  -216
  -233
  -253
  -277
  -304
  -335
  -369
  -407
  -449
  -495
  -544
  -597
  -654
  -714
  -778
  -845
  -915
  -989
  -1,066
  -1,146
  -1,230
  -1,316
  -1,407
  -1,500
  -1,598
  -1,699
  -1,803
  -1,912
Issuance/(repayment) of debt, $m
  0
  63
  81
  103
  127
  153
  182
  212
  244
  276
  308
  340
  373
  404
  435
  465
  495
  524
  552
  580
  607
  635
  662
  690
  718
  746
  776
  806
  838
  871
  905
Issuance/(repurchase) of shares, $m
  1
  199
  215
  233
  255
  280
  308
  341
  376
  416
  460
  507
  559
  613
  672
  734
  799
  868
  940
  1,015
  1,093
  1,175
  1,260
  1,348
  1,440
  1,535
  1,634
  1,736
  1,842
  1,953
  2,068
Cash from financing (excl. dividends), $m  
  1
  262
  296
  336
  382
  433
  490
  553
  620
  692
  768
  847
  932
  1,017
  1,107
  1,199
  1,294
  1,392
  1,492
  1,595
  1,700
  1,810
  1,922
  2,038
  2,158
  2,281
  2,410
  2,542
  2,680
  2,824
  2,973
Total cash flow (excl. dividends), $m
  0
  74
  95
  120
  149
  180
  213
  249
  285
  323
  361
  399
  436
  474
  510
  545
  580
  614
  647
  679
  712
  744
  776
  808
  841
  875
  909
  945
  982
  1,020
  1,061
Retained Cash Flow (-), $m
  106
  -199
  -215
  -233
  -255
  -280
  -308
  -341
  -376
  -416
  -460
  -507
  -559
  -613
  -672
  -734
  -799
  -868
  -940
  -1,015
  -1,093
  -1,175
  -1,260
  -1,348
  -1,440
  -1,535
  -1,634
  -1,736
  -1,842
  -1,953
  -2,068
Prev. year cash balance distribution, $m
 
  96
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -30
  -120
  -113
  -106
  -100
  -95
  -92
  -91
  -93
  -99
  -109
  -122
  -140
  -162
  -188
  -219
  -254
  -293
  -335
  -382
  -431
  -484
  -540
  -599
  -660
  -725
  -791
  -861
  -933
  -1,007
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  -29
  -110
  -98
  -87
  -78
  -69
  -62
  -57
  -54
  -52
  -52
  -52
  -53
  -54
  -55
  -56
  -55
  -54
  -52
  -48
  -45
  -40
  -35
  -30
  -26
  -21
  -17
  -13
  -10
  -8
Current shareholders' claim on cash, %
  100
  38.3
  17.2
  8.8
  4.9
  3.0
  1.9
  1.3
  0.9
  0.7
  0.5
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

PTC Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of orally administered, small molecule drugs that target post-transcriptional control processes. The company’s lead product is Translarna (ataluren), for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and which is in Phase III clinical trials to treat cystic fibrosis caused by nonsense mutations. It also develops Translarna, which is in Phase II clinical trials for the treatment of mucopolysaccharidosis type I caused by nonsense mutation, nonsense mutation aniridia, and nonsense mutation Dravet syndrome/CDKL5; and RG7800 that is in Phase II clinical trials for the treatment of spinal muscular atrophy and RG7916 that is in Phase I clinical trials to treat spinal muscular atrophy. In addition, the company’s development programs include PTC596, which is in Phase I clinical trials to treat chemotherapy resistant cancers. PTC Therapeutics, Inc. has collaborations with F. Hoffman-La Roche Ltd and Hoffman-La Roche Inc., and the Spinal Muscular Atrophy Foundation to develop and commercialize compounds identified under its spinal muscular atrophy sponsored research program; and research collaboration with Massachusetts General Hospital for the treatment of rare genetic disorders resulting from pre-mRNA. The company was founded in 1998 and is headquartered in South Plainfield, New Jersey.

FINANCIAL RATIOS  of  PTC Therapeutics (PTCT)

Valuation Ratios
P/E Ratio -4.2
Price to Sales 7.2
Price to Book 5
Price to Tangible Book
Price to Cash Flow -5.7
Price to Free Cash Flow -5.6
Growth Rates
Sales Growth Rate 124.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -33.3%
Cap. Spend. - 3 Yr. Gr. Rate 14.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 81.7%
Total Debt to Equity 81.7%
Interest Coverage -27
Management Effectiveness
Return On Assets -43.2%
Ret/ On Assets - 3 Yr. Avg. -43.6%
Return On Total Capital -53%
Ret/ On T. Cap. - 3 Yr. Avg. -50.5%
Return On Equity -82.1%
Return On Equity - 3 Yr. Avg. -63.4%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -161.4%
EBITDA Margin - 3 Yr. Avg. -332.3%
Operating Margin -159%
Oper. Margin - 3 Yr. Avg. -336.8%
Pre-Tax Margin -171.1%
Pre-Tax Margin - 3 Yr. Avg. -340.8%
Net Profit Margin -171.1%
Net Profit Margin - 3 Yr. Avg. -335.5%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 1.4%
Payout Ratio 0%

PTCT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PTCT stock intrinsic value calculation we used $83 million for the last fiscal year's total revenue generated by PTC Therapeutics. The default revenue input number comes from 2016 income statement of PTC Therapeutics. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PTCT stock valuation model: a) initial revenue growth rate of 42.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for PTCT is calculated based on our internal credit rating of PTC Therapeutics, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of PTC Therapeutics.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PTCT stock the variable cost ratio is equal to 110.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $167 million in the base year in the intrinsic value calculation for PTCT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.3% for PTC Therapeutics.

Corporate tax rate of 27% is the nominal tax rate for PTC Therapeutics. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PTCT stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PTCT are equal to 9.6%.

Life of production assets of 10 years is the average useful life of capital assets used in PTC Therapeutics operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PTCT is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $120 million for PTC Therapeutics - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 34.572 million for PTC Therapeutics is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of PTC Therapeutics at the current share price and the inputted number of shares is $0.6 billion.

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COMPANY NEWS

▶ PTC Therapeutics reports 2Q loss   [Aug-08-17 04:47PM  Associated Press]
▶ How These Biotechs Are Dodging Payor Pushback In Muscular Dystrophy   [Jul-17-17 04:33PM  Investor's Business Daily]
▶ Here's Why PTC Therapeutics, Inc. Popped 45.2% in June   [Jul-08-17 06:43AM  Motley Fool]
▶ [$$] PTC Expects Net Price of $35,000 Annually Per Patient for Emflaza   [May-08-17 11:52PM  The Wall Street Journal]
▶ PTC Therapeutics reports 1Q loss   [07:40AM  Associated Press]
▶ 5 Stocks with Earnings Acceleration to Buy Now   [May-02-17 10:33AM  Zacks]
▶ Why PTC Therapeutics Dropped 25.3% in March   [Apr-07-17 07:45AM  Motley Fool]
▶ [$$] Marathon Sells Muscular-Dystrophy Drug to PTC After Pricing Scrutiny   [Mar-16-17 04:43PM  at The Wall Street Journal]
▶ PTC Therapeutics Buys Duchenne Drug for $140M   [03:33PM  at Investopedia]
▶ Why PTC Therapeutics Stock Is Crashing Today   [03:22PM  at Motley Fool]
▶ Why PTC Therapeutics Is Plunging Today   [12:09PM  at Motley Fool]
▶ 5 Small-Cap Biotech Stocks to Buy in March   [09:22AM  at Motley Fool]
Stock chart of PTCT Financial statements of PTCT
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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