PTC Therapeutics price target raised to $80 from $71 at UBS

UBS analyst Eliana Merle raised the firm’s price target on PTC Therapeutics (PTCT) to $80 from $71 and keeps a Buy rating on the shares. The FDA approved Sephience for the treatment of phenylketonuria in adults and children aged 1 month old and older, and and while this was expected, it is still a major de-risking event, the analyst tells investors in a research note. UBS sees PKU as a major opportunity for PTC and sees the potential for a strong U.S. launch.