PTC Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Tiago Fauth from Wells Fargo maintained a Buy rating on the stock and has a $78.00 price target.
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Tiago Fauth has given his Buy rating due to a combination of factors that highlight the potential of PTC Therapeutics’ new drug, Sephience. The recent FDA approval of Sephience, with a label similar to Kuvan, aligns with expectations and presents a broad treatment scope for patients one month and older. Despite a noted risk of increased bleeding in less than 2% of patients, this is not anticipated to significantly impact the drug’s market uptake or peak sales potential.
Additionally, the pricing strategy for Sephience is seen as a positive factor, with the U.S. wholesale acquisition cost exceeding initial market expectations. This higher pricing, coupled with intellectual property protection extending to at least 2039, is expected to support strong revenue potential. The launch strategy focuses on a substantial number of prescribers and centers of excellence, aiming for quick patient transitions from existing therapies. Furthermore, surveys indicate a high willingness among healthcare providers to prescribe Sephience, suggesting promising adoption rates across various patient segments.
In another report released on July 19, TR | OpenAI – 4o also upgraded the stock to a Buy with a $53.00 price target.
PTCT’s price has also changed slightly for the past six months – from $45.190 to $44.340, which is a -1.88% drop .