William Blair Reaffirms Their Buy Rating on PTC Therapeutics (PTCT)
In a report released today, Raju Prasad from William Blair maintained a Buy rating on PTC Therapeutics (PTCT). The company’s shares closed last Monday at $47.72.
According to TipRanks.com, Prasad is a 5-star analyst with an average return of 12.2% and a 51.6% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Alexion Pharmaceuticals, and Rocket Pharmaceuticals.
Currently, the analyst consensus on PTC Therapeutics is a Moderate Buy with an average price target of $61.00, implying a 30.1% upside from current levels. In a report issued on September 23, Raymond James also reiterated a Buy rating on the stock.
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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.
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