Shares of PTC Therapeutics Inc. (PTCT) surged over 5% on Monday morning after Barclays raised its price target on the biopharmaceutical company's stock.
Barclays analyst X raised their price target on PTC Therapeutics to $43 from $31 while maintaining an Equal Weight rating. The increased price target follows the company's recent promising financial results and pipeline updates.
PTC Therapeutics is a leading global biopharmaceutical company focused on the discovery, development, and commercialization of novel therapies for rare diseases. Investors are optimistic about the company's prospects given its strong product portfolio and drug pipeline targeting diseases with high unmet medical need.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.