Analyst Brian Cheng from J.P. Morgan reiterated a Buy rating on PTC Therapeutics and keeping the price target at $68.00.
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Brian Cheng has given his Buy rating due to a combination of factors that present an attractive investment opportunity in PTC Therapeutics. The recent CRL from the FDA regarding the company’s drug application for Friedreich’s ataxia has led to a dip in PTCT’s stock price, which Cheng views as a temporary weakness and a buying opportunity. The market reaction was anticipated, and the focus now shifts to the upcoming launch of Sephience for PKU, which is expected to perform well based on positive feedback from physicians and payors.
Cheng’s confidence in PTCT is further supported by the company’s strong financial position, including a $2 billion cash reserve that could be used for business development. The analyst also highlights the potential of other products in PTCT’s pipeline, such as vatiquinone and translarna, which could drive additional growth. The sum-of-the-parts valuation suggests significant upside potential, with a December 2025 price target of $68. Risks include potential challenges in product uptake and regulatory hurdles, but the overall outlook remains positive.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $73.00 price target.
PTCT’s price has also changed slightly for the past six months – from $50.425 to $49.590, which is a -1.66% drop .