JPMorgan ups PTC Therapeutics target, adds to Focus List

JPMorgan analyst Eric Joseph raised the firm’s price target on PTC Therapeutics (PTCT) to $78 from $72 and keeps an Overweight rating on the shares. The firm also added the shares to its Analyst Focus List. JPMorgan surveyed opinions from U.S. phenylketonuria-treating physicians in relation to sepiapterin’s treatment product profile and expected incorporation within the treatment landscape. The feedback was “overwhelmingly positive” for sepiapterin, supporting broad uptake across variant and classical type disease, and a high propensity to either start use in patients naive to therapy or have patients switch from current therapy, the analyst tells investors in a research note. The firm anticipates approval and launch of sepiapterin in the second half of 2025.