Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on PTC Therapeutics (PTCT) yesterday and set a price target of $61. The company’s shares closed yesterday at $33.86.
Young commented:
“. We reiterate our Overweight rating and $61 PT. The biggest question is, when will PTC begin to receive more credit for programs beyond We expect the stock to begin to outperform closer to AAN. We hosted PTC management for a NDR and caught up with the CEO and Head IR separately. We think that the market gives limited credit to the blockbuster potential of risdiplam, LatAm sales from Tegsedi, and AADC gene therapy. We expect this to be a transformational year for revenue growth and diversification for 2020 and beyond. If we assumed 100% success for risdiplam and AADC and no credit for Tegsedi, our valuation is $108/sh (220% upside potential from current market price).”
According to TipRanks.com, Young is a 4-star analyst with an average return of 8.0% and a 49.7% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.
Currently, the analyst consensus on PTC Therapeutics is a Strong Buy with an average price target of $50.67, implying a 49.6% 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 December 31, the company reported a quarterly GAAP net loss of $48.33 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.
