PTC Therapeutics (PTCT) stock is soaring 5.60% in pre-market trading on Friday following a significant upgrade from Bank of America Securities. The financial services giant raised its rating on the biopharmaceutical company from Neutral to Buy, sparking investor enthusiasm.

PTC Therapeutics, known for its focus on rare disorders and genetic therapies, has been gaining attention in the biotech sector. While specific details of the upgrade rationale were not immediately available, such positive changes in analyst outlooks often reflect improving fundamentals or promising developments in a company's drug pipeline.

The upgrade to Buy status suggests that Bank of America Securities sees potential for substantial growth in PTC Therapeutics' future. This vote of confidence from a major financial institution could attract more investors and potentially lead to further price appreciation. However, as with all biotech investments, investors should be aware of the inherent risks and volatility in this sector.