RBC Capital analyst Brian Abrahams raised the firm’s price target on PTC Therapeutics (PTCT) to $60 from $58 and keeps an Outperform rating on the shares. Ahead of the July 29 sepiapterin PDUFA, the firm has surveyed several payers who cover 12.5M U.S. lives, coming away with a clear sense that insurers are unlikely to place any undue hurdles around PKU patients receiving sepiapterin, the analyst tells investors in a research note. It may take a few months for formulary/access, but given the apparent payer amenability, this launch could exceed expectations, the firm adds.
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