Morgan Stanley analyst Judah Frommer has maintained their bullish stance on PTCT stock, giving a Buy rating on May 5.
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Judah Frommer has given his Buy rating due to a combination of factors including PTC Therapeutics’ strong financial performance and promising future prospects. The company reported first-quarter earnings that exceeded expectations, driven by higher revenues from key products like Translarna and Emflaza. This financial strength is further supported by a robust cash balance, which provides a solid foundation for future growth.
Additionally, PTC Therapeutics is on the verge of launching new products, such as Sephience for PKU and vatiquinone for Friedreich’s ataxia, both of which have received positive regulatory feedback. These potential commercial launches are expected to significantly contribute to the company’s revenue, with management expressing optimism about their impact. The unmet medical needs in the pediatric FA population and the strategic focus on these launches underpin the positive outlook, justifying the Buy rating.
In another report released on May 5, RBC Capital also maintained a Buy rating on the stock with a $57.00 price target.
PTCT’s price has also changed moderately for the past six months – from $43.180 to $36.190, which is a -16.19% drop .