William Blair analyst Sami Corwin has maintained their bullish stance on PTCT stock, giving a Buy rating on March 14.
Sami Corwin has given his Buy rating due to a combination of factors that highlight PTC Therapeutics’ strategic positioning and potential for growth. Despite the European Commission’s decision to revoke Translarna’s conditional marketing authorization in the EU, PTC Therapeutics’ management has assured that this will not affect their revenue guidance for 2025, as they had anticipated the market withdrawal by the end of 2024. The company has a robust presence in over 50 countries, with non-EU markets contributing significantly to Translarna’s revenue, and is actively expanding into new regions such as South America, North Africa, the Middle East, and Asia-Pacific.
Furthermore, while there is uncertainty regarding Translarna’s approval in the U.S., the potential for FDA approval of another drug, vatiquinone, is seen as promising due to the lack of approved therapies for certain conditions. This potential approval, coupled with the company’s strategic market expansions, underpins the confidence in PTC Therapeutics’ revenue targets and growth prospects. Therefore, despite some challenges, the overall outlook for PTC Therapeutics remains positive, justifying the Buy rating.
In another report released on March 14, J.P. Morgan also maintained a Buy rating on the stock with a $72.00 price target.