PTC Therapeutics (PTCT) Receives a Buy from William Blair

In a report released today, Raju Prasad from William Blair maintained a Buy rating on PTC Therapeutics (PTCTResearch Report). The company’s shares closed last Monday at $50.06, close to its 52-week high of $53.29.

According to TipRanks.com, Prasad is a 5-star analyst with an average return of 22.1% and a 62.2% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Alexion Pharmaceuticals, and Rocket Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for PTC Therapeutics with a $60.80 average price target, representing a 26.1% upside. In a report released yesterday, Merrill Lynch also maintained a Buy rating on the stock with a $55.00 price target.

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The company has a one-year high of $53.29 and a one-year low of $27.53. Currently, PTC Therapeutics has an average volume of 672.2K.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTCT in relation to earlier this year.

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PTC Therapeutics, Inc. is a biopharmaceutical company, which engages in the discovery and commercialization of clinically-differentiated medicines. It focuses on the development of new treatments for multiple therapeutic areas, including rare diseases and oncology.