On Dec 03, major Wall Street analysts update their ratings for $PTC Therapeutics (PTCT.US)$, with price targets ranging from $41 to $68.
Morgan Stanley analyst Jeffrey Hung maintains with a hold rating, and maintains the target price at $45.
J.P. Morgan analyst Eric Joseph maintains with a buy rating, and maintains the target price at $62.
BofA Securities analyst Tazeen Ahmad maintains with a sell rating, and adjusts the target price from $31 to $41.
Barclays analyst Gena Wang maintains with a hold rating, and adjusts the target price from $45 to $56.
Wells Fargo analyst Tiago Fauth maintains with a buy rating, and maintains the target price at $68.
Furthermore, according to the comprehensive report, the opinions of $PTC Therapeutics (PTCT.US)$'s main analysts recently are as follows:
PTC Therapeutics recently disclosed a global licensing and collaboration pact with a major pharmaceutical company for its Huntington's Disease program. This deal comprises an immediate substantial payment to PTC and the potential for substantial additional funds contingent upon developmental, regulatory, and sales achievements. Analysts regard PTC as a robust investment proposition extending into 2025, supported by a broad rare disease portfolio with several significant upcoming events. This agreement with Novartis is viewed favorably, considering the significant upfront payment received by PTC, the retention of considerable economic interests, and the vast potential market upon successful development and approval of their program.
Following the announcement by PTC Therapeutics of a strategic license agreement with a global partner for the development in Huntington's disease, there is encouragement that this deal reduces the near-term demand for capital. Despite this development, there is emphasis on the need for regulatory alignment concerning an accelerated approval path after a promising phase 2 update, while further clarity is awaited regarding the future developmental strategies which are believed to still possess certain risks.
The company's agreement with Novartis, which includes a high upfront payment and milestones, is viewed favorably. This deal not only bolsters the company's financial position but also confirms the validity of its platform, though it also shifts development risks.
The firm believes that the new Huntington's disease collaboration with Novartis is not yet fully reflected in the stock's valuation.
Here are the latest investment ratings and price targets for $PTC Therapeutics (PTCT.US)$ from 8 analysts:
Note:
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