Roth Capital Raises PTC Therapeutics Price Target To $58
In a research report issued today, Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating on PTC Therapeutics (NASDAQ:PTCT), and raised his price target to $58 (from $43), which represents a potential upside of 28% from where the stock is currently trading.
Chattopadhyay wrote, “PTCT’s rare disease-focused pipeline is well positioned to deliver at least three product approvals over the next three years, in our view. With Translarna commercial launch underway, we believe conditional approval for nmCF could be an upside surprise during 2015. Additionally, MIPS I and SMA programs are likely candidates for accelerated approval, in our opinion.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Debjit Chattopadhyay has a total average return of 3.7% and a 33.3% success rate. Chattopadhyay has a 48.9% average return when recommending PTCT, and is ranked #1394 out of 3309 analysts.