PTC Therapeutics (PTCT) Receives a Buy from Cantor Fitzgerald

By Carrie Williams

Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on PTC Therapeutics (PTCTResearch Report) yesterday and set a price target of $61. The company’s shares closed yesterday at $34.54.

Young wrote:

“. We reiterate our Overweight rating and $61 Price Target and think that risk/reward is positive for PTC heading into updates on SMA and AADC. After today’s update, we remain confident in both the regulatory and commercial pathway for risdiplam and view it as a largely underappreciated opportunity for PTC. The company is eligible to receive $15M in milestone payments each for NDA and MAA filings and $20M each for first US and EU sale. We model $3B 2025 WW sales for risdiplam and $360M 2025 royalties to PTC on an unadjusted basis. We expect further updates on these data at AAN (May 4-10).”

According to TipRanks.com, Young is a 4-star analyst with an average return of 5.9% and a 48.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for PTC Therapeutics with a $50.67 average price target, implying a 46.7% upside from current levels. In a report issued on February 22, RBC Capital also maintained a Buy rating on the stock with a $40 price target.

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Based on PTC Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $50.97 million. In comparison, last year the company had a net profit of $1.27 million.

Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is neutral on the stock.

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PTC Therapeutics, Inc. is a biopharmaceutical company, which focuses on the discovery, development, and commercialization of novel medicines using its expertise in RNA biology. The company’s internally discovered pipeline addresses multiple therapeutic areas, including rare disorders and oncology.