PTC Therapeutics price target raised to $50 from $44 at Goldman Sachs

Goldman Sachs raised the firm’s price target on PTC Therapeutics (PTCT) to $50 from $44 and keeps a Sell rating on the shares. PTC Therapeutics reported stronger-than-expected Q3 results driven by robust early Sephience sales and solid performance from the legacy Duchenne muscular dystrophy franchise, the analyst tells investors in a research note. Sephience’s launch showed encouraging momentum with broad COE engagement and favorable early payer dynamics, though DMD revenue continued to decline sequentially. While early uptake supports confidence in Sephience’s trajectory, U.S. sales targets above $1B appear ambitious, and attention now turns to ongoing launch progress, the upcoming votoplam FDA update, and pipeline developments at December’s R&D day, Goldman says.