In a report released yesterday, Tiago Fauth from Wells Fargo maintained a Buy rating on PTC Therapeutics (PTCT – Research Report), with a price target of $37.00.
Tiago Fauth has given his Buy rating due to a combination of factors that suggest a strong future for PTC Therapeutics. This includes the company’s narrowed revenue guidance for the year, which aligns with expectations considering the opinion from the Committee for Medicinal Products for Human Use (CHMP) about Translarna. Moreover, Fauth sees a stable base in the company’s commercial business and royalties, with additional growth potential stemming from advancements in Sepia and their ‘518 program.
Additionally, Fauth anticipates key updates in PTC Therapeutics’ pipeline, such as the 12-month data from the Phase 2 PIVOT-HD study, which if positive, could validate the drug’s efficacy in lowering harmful protein levels in Huntington’s Disease without safety concerns. The upcoming submission of a New Drug Application (NDA) for Sepiapterin, which is poised to potentially outperform the standard of care, is another positive aspect. The projected significant sales from Sepiapterin by 2035 and other pipeline developments like vatiquinone for Friedreich ataxia, further contribute to the optimistic view and the Buy rating.
PTCT’s price has also changed moderately for the past six months – from $40.780 to $28.190, which is a -30.87% drop .
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PTC Therapeutics (PTCT) Company Description:
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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