William Blair analyst Raju Prasad maintained a Buy rating on PTC Therapeutics (PTCT) today. The company’s shares closed yesterday at $44.75.
Prasad commented:
“We continue to view risdiplam as a potential best-in-class therapy particularly for type 2/3 SMA patients. For T egsedi, ANVISA approval is expected by the end of 2019 and for Waylivra, the company is reviewing clinical results to determine potential commercial strategy . The company’s 2023 guidance includes roughly $150 million for these products. Lastly , the company continues to guide to about 5,000 patients for GT-AADC with a BLA on track to be submitted in the fourth quarter (potential U.S. launch in 2020).”
According to TipRanks.com, Prasad is a 5-star analyst with an average return of 14.6% and a 50.9% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Global Blood Therapeutics, and Logicbio Therapeutics Inc.
Currently, the analyst consensus on PTC Therapeutics is a Strong Buy with an average price target of $55.
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Based on PTC Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $72.11 million. In comparison, last year the company had a GAAP net loss of $9.52 million.
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PTC Therapeutics, Inc. is a biopharmaceutical company, which engages in the discovery and commercialization of clinically-differentiated medicines. It focuses on the development of new treatments for multiple therapeutic areas, including rare diseases and oncology.
