Tazeen Ahmad, an analyst from Bank of America Securities, maintained the Hold rating on PTC Therapeutics (PTCT – Research Report). The associated price target remains the same with $55.00.
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Tazeen Ahmad has given his Hold rating due to a combination of factors surrounding PTC Therapeutics. The company is currently navigating through several NDA reviews with the FDA for conditions such as PKU, FA, and DMD. Although the company appears to be ahead of schedule with PKU, having already started labeling discussions, there remains uncertainty about the outcomes of these reviews, which impacts the stock’s potential.
Additionally, while PTC Therapeutics is well-prepared for macroeconomic uncertainties with a strong cash position and minimal expected impact from pharma tariffs, the future product revenues are still a concern. The company’s ongoing efforts in the PKU program, including positive discussions with payors and a potential premium pricing strategy, show promise. However, the need for further clarity on the PIVOT-HD trial results and the company’s negotiations in the EU for Translarna revenues contribute to the cautious approach in maintaining a Hold rating.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTCT in relation to earlier this year.