Judah Frommer, an analyst from Morgan Stanley, maintained the Buy rating on PTC Therapeutics. The associated price target remains the same with $70.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Judah Frommer has given his Buy rating due to a combination of factors that highlight the potential growth and market opportunity for PTC Therapeutics. The recent FDA approval of Sephience, an oral treatment for PKU, marks a significant milestone for the company as it is their first full drug approval since its inception. This approval comes with a broad label, allowing treatment for all PKU patients, including pediatrics, which sets it apart from other products with more restrictive labels.
Moreover, the management’s strategy to initially target a substantial portion of the US PKU population, particularly those who have previously used Kuvan, demonstrates a focused approach to capturing market share. The confidence in securing reimbursement from both government and commercial payers further supports the potential for Sephience to become a blockbuster drug. These factors, combined with the unmet needs within the PKU community and the expected low barriers to access, underpin Frommer’s optimistic outlook on PTC Therapeutics’ stock.
According to TipRanks, Frommer is an analyst with an average return of -5.3% and a 47.06% success rate. Frommer covers the Healthcare sector, focusing on stocks such as Galapagos, RegenXBio, and PTC Therapeutics.
In another report released today, UBS also maintained a Buy rating on the stock with a $80.00 price target.