PTC Therapeutics (PTCT) shares rallied 9% in the last trading session to close at $50.01. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.4% loss over the past four weeks.
PTC Therapeutics’ share price surged on Monday following Cantor Fitzgerald’s decision to raise its price target from $76 to $113 while maintaining an Overweight rating on the stock. Analysts attribute the bullish target price to Cantor’s confidence in PTCT’s potential in clinching a nod from the FDA for sepiapterin to treat pediatric and adult patients with phenylketonuria. A final decision is anticipated by July 29, 2025. If approved by respective regulatory authorities, Cantor projects that the drug could achieve peak annual sales of $1.5 billion across the United States and the EU.
This biopharmaceutical company is expected to post quarterly loss of $1 per share in its upcoming report, which represents a year-over-year change of -316.7%. Revenues are expected to be $247.89 million, down 19.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For PTC Therapeutics, the consensus EPS estimate for the quarter has been revised 3.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PTCT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
PTC Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Aligos Therapeutics, Inc. (ALGS), another stock in the same industry, closed the last trading session 12.5% lower at $22.57. ALGS has returned -40.6% in the past month.
For Aligos Therapeutics
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpPTC Therapeutics, Inc. (PTCT) : Free Stock Analysis Report
Aligos Therapeutics, Inc. (ALGS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
