Wells Fargo raised the firm’s price target on PTC Therapeutics (PTCT) to $78 from $74 and keeps an Overweight rating on the shares after sephience was approved by FDA as expected and with no surprises on label. The firm notes that label came in line with its expectations, very similar to Kuvan, with pricing higher than Street expectation. Wells thinks there is upside to current sell-side peak estimates even with modest assumptions.
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Read More on PTCT:
- Positive Outlook for PTC Therapeutics: Buy Rating Affirmed Following Sephience Approval and Strategic Launch
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