- PTC Therapeutics, Inc. (NASDAQ:PTCT) announced Phase 2 study results for PTC518, leading to an 18.62% drop in stock price.
- Bronstein, Gewirtz & Grossman, LLC initiated an investigation on behalf of PTC investors following the stock price decline.
- Citigroup upgraded PTC’s stock from Sell to Neutral, and Joel Beatty from Robert W. Baird set a price target of $66, indicating a potential increase of approximately 82.37%.
PTC Therapeutics, Inc. (NASDAQ:PTCT), a biopharmaceutical company focused on developing treatments for rare disorders, recently announced results from its Phase 2 PIVOT-HD study of PTC518 (votoplam) for Huntington’s disease. While the study met its primary goal of reducing blood Huntingtin protein levels, analysts believe a Phase 3 study is needed to confirm its efficacy in slowing the disease. This announcement led to a significant drop in PTC’s stock price by $9.30, or 18.62%, closing at $40.65 on May 5, 2025.
Following the stock price drop, Bronstein, Gewirtz & Grossman, LLC launched an investigation on behalf of PTC investors. The law firm, known for recovering substantial sums for investors, offers its services on a contingency fee basis. This means they will only seek reimbursement for expenses and fees if they succeed in the case. Investors who have purchased PTC securities are encouraged to participate in the investigation.
Despite the recent challenges, Citigroup upgraded PTC’s stock from Sell to Neutral on May 7, 2025, when the stock was priced at $36.19. This upgrade suggests a more balanced outlook on the company’s future prospects. Additionally, Joel Beatty from Robert W. Baird set a price target of $66 for PTCT, indicating a potential increase of approximately 82.37% from the current price of $36.19 at the time of the announcement.
Currently, PTC’s stock price is $46.05, reflecting a slight increase of 0.08% or $0.04. The stock has traded between $45.51 and $46.57 today. Over the past year, PTCT has seen a high of $58.38 and a low of $28.72. With a market capitalization of approximately $3.65 billion, PTC remains a significant player in the biopharmaceutical industry. Today’s trading volume for PTCT is 493,831 shares, indicating active investor interest.
