PTC Therapeutics Beats Q2 Estimates; Veracyte Posts 15% Revenue Surge, Raises FY26 Guidance

PTCT delivered a large second-quarter beat, reporting revenue of $361 million against roughly $304 million expected and non-GAAP EPS of $0.92 versus $0.41 estimated. The company raised full-year 2026 total revenue guidance to a range of $1.18 billion to $1.28 billion.

VCYT reported alongside with revenue of $150.3 million, up 15% year over year, and raised its fiscal 2026 outlook to $590 million to $596 million, implying 14% to 15% growth. The diagnostics business is compounding on test volume rather than on price, which is the healthier of the two growth sources.

Analysts moved targets up on Veracyte following the print. Needham raised its target from $57 to $69 while maintaining a Buy rating, and Freedom Capital moved to $66, valuing the business at roughly 27 times 2027 estimated EBITDA. That multiple is where the caution belongs: the estimates have caught up to the operating performance, so further upside likely requires guidance to move again rather than simply to be met.

For PTC Therapeutics the guidance raise is the more meaningful development, since rare-disease revenue recognition is lumpy and a full-year range increase implies confidence beyond a single strong quarter. Watch reimbursement progress in the rare-disease portfolio, the pace of Veracyte test volume growth against a raised bar, and whether either company's second-half comparisons get harder.

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