PTC Therapeutics: A Strong Buy on Robust Financials and Favorable Regulatory Developments

William Blair analyst Sami Corwin has maintained their bullish stance on PTCT stock, giving a Buy rating on April 11.

Sami Corwin’s rating is based on a combination of robust financial performance and promising regulatory developments for PTC Therapeutics. The company’s first-quarter revenue of $210 million surpassed both the consensus estimate of $170.5 million and William Blair’s own estimate of $183.8 million. This success is attributed to the continued European market presence of Translarna and an increase in new patient starts for Emflaza. Additionally, healthy royalty revenue from Roche’s Evrysdi further bolsters PTC’s financial position, leading to a reaffirmation of its full-year revenue guidance. With a strong cash reserve of $884.8 million, PTC Therapeutics is well-positioned for future investment and growth.

Furthermore, Corwin’s Buy rating is influenced by the strategic regulatory maneuvers undertaken by PTC Therapeutics. The company’s recent filing of a Marketing Authorization Application (MAA) for sepiapterin in Phenylketonuria (PKU) with the European Medicines Agency (EMA) is a positive move, especially as the EMA did not require additional studies that the FDA did. Despite the EMA’s current stance on vatiquinone in Friedreich ataxia, the European Commission has yet to adopt a negative opinion, indicating potential for a favorable outcome. Moreover, PTC’s intentions to file a New Drug Application (NDA) for sepiapterin in PKU with the FDA by the third quarter of 2024 signals ongoing efforts to expand its portfolio and market reach. These regulatory prospects, coupled with solid financial metrics, provide a foundation for the optimistic outlook on PTCT’s stock.

In another report released on April 11, Wells Fargo also maintained a Buy rating on the stock with a $37.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

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.