PTC Therapeutics (PTCT) Gets a Buy Rating from William Blair
In a report released yesterday, Raju Prasad from William Blair maintained a Buy rating on PTC Therapeutics (PTCT). The company’s shares closed last Thursday at $53.89.
According to TipRanks.com, Prasad is a 5-star analyst with an average return of 13.3% and a 54.3% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Alexion Pharmaceuticals, and Rocket Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PTC Therapeutics with a $58.63 average price target, which is an 11.7% upside from current levels. In a report issued on October 14, Raymond James also maintained a Buy rating on the stock with a $63.00 price target.
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Based on PTC Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $75.24 million and GAAP net loss of $181 million. In comparison, last year the company earned revenue of $85.52 million and had a GAAP net loss of $41.79 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. The company was founded by Allan Steven Jacobson and Stuart W. Peltz on March 31, 1998 and is headquartered in South Plainfield, NJ.