William Blair Sticks to Its Buy Rating for PTC Therapeutics (PTCT)


William Blair analyst Raju Prasad maintained a Buy rating on PTC Therapeutics (NASDAQ: PTCT) today. The company’s shares opened today at $41.20.

Prasad commented:

“We believe that the efficacy of AGIL-AADC is impressive and likely to be approved (company has guided to BLA and MAA submissions in 2019), but remain conservative on the commercial potential of the product given the recency of the discovery of the disease (in T aiwan) and number of patients identified to date (about 137). We note that if the company is able to identify more patients (company has an initial estimate of 5,000 worldwide), there would be significant upside to our current estimates for the product. We see larger market opportunities for both Friedrich’s ataxia and Angelman syndrome with peak revenue projections of $371 million and $1 billion, respectively . Please refer to important disclosures on pages 7 – 8.”

According to TipRanks.com, Prasad is a 4-star analyst with an average return of 14.2% and a 60.0% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Global Blood Therapeutics, and Audentes Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PTC Therapeutics with a $48 average price target.

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The company has a one-year high of $52.95 and a one-year low of $14.56. Currently, PTC Therapeutics has an average volume of 1.3M.

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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.

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