TD Cowen analyst Joseph Thome maintained a Hold rating on PTC Therapeutics (PTCT – Research Report) today and set a price target of $52.00.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Joseph Thome has given his Hold rating due to a combination of factors impacting PTC Therapeutics. The company has shown strong performance in the past year, notably through strategic partnerships and successful regulatory advancements. However, despite these achievements, the stock price has remained relatively stagnant compared to the previous year.
Thome acknowledges the uncertainty surrounding FDA decisions, which could affect the company’s future prospects. While there is optimism regarding the potential approval of key drugs like sepiapterin and vatiquinone, the need for careful financial management and successful product launches remains crucial. These elements contribute to the Hold rating, reflecting both the potential for growth and the challenges that lie ahead.
Thome covers the Healthcare sector, focusing on stocks such as Alkermes, PTC Therapeutics, and uniQure. According to TipRanks, Thome has an average return of 0.8% and a 38.50% success rate on recommended stocks.
In another report released yesterday, Scotiabank also maintained a Hold rating on the stock with a $55.00 price target.