William Blair analyst Sami Corwin has maintained their bullish stance on PTCT stock, giving a Buy rating on August 13.
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Sami Corwin’s rating is based on the assessment that despite the recent setback with the FDA’s complete response letter for vatiquinone, this particular asset is not pivotal to PTC Therapeutics’ overall investment thesis. The CRL was anticipated due to the MOVE-FA trial’s failure to meet its primary endpoint, and while the FDA requires another well-controlled study for future approval, this does not significantly impact the company’s broader strategic outlook.
Corwin acknowledges that the potential launch of vatiquinone may be delayed until the latter half of 2029, but emphasizes that the drug is not a core component of the firm’s valuation of PTC Therapeutics. The analyst maintains a positive outlook on the company’s other ventures and believes that the long-term prospects remain strong, justifying the Buy rating.
In another report released on August 13, RBC Capital also maintained a Buy rating on the stock with a $63.00 price target.