Analyst Judah Frommer from Morgan Stanley maintained a Buy rating on PTC Therapeutics (PTCT – Research Report) and keeping the price target at $70.00.
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Judah Frommer has given his Buy rating due to a combination of factors that highlight PTC Therapeutics’ strong position in the biotechnology sector. The company’s anticipated launch of sepiapterin for PKU, with an upcoming PDUFA date, is expected to gain approval in both the US and EU, which could significantly enhance its market presence. The unmet need in PKU treatment, coupled with the limitations of existing therapies like Kuvan and Palynziq, positions sepiapterin as a differentiated and potentially more effective option.
Moreover, PTC Therapeutics’ robust clinical pipeline and strategic portfolio management have strengthened its financial outlook. The company’s strong balance sheet, with substantial net cash, supports its path towards profitability. These factors, along with the company’s existing commercial infrastructure and the promising data for sepiapterin, contribute to a positive outlook for PTC Therapeutics, justifying the Buy rating.
Frommer covers the Healthcare sector, focusing on stocks such as Galapagos, Bicara Therapeutics Inc., and PTC Therapeutics. According to TipRanks, Frommer has an average return of -5.2% and a 45.83% success rate on recommended stocks.