BofA upgraded PTC Therapeutics (PTCT) to Buy from Neutral with a price target of $68, up from $55. The firm updated its estimates for the company’s phenylketonuria program, now estimating $788M in peak risk adjusted sales. Key opinion leader checks in PKU indicate PTC’s sepiapterin will likely be approved given the high unmet treatment need, the analyst tells investors in a research note. BofA also highlights the company’s “strong” balance sheet and current. It believes PTC’s commercial sales “provides a floor” to the stock’s valuation.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PTCT:
- PTC Therapeutics price target lowered to $42 from $56 at Barclays
- PTC Therapeutics’ Earnings Call: Strong Start to 2025
- Biotech Alert: Searches spiking for these stocks today
- PTC Therapeutics price target lowered to $66 from $70 at Baird
- PTC Therapeutics: Strong Revenue Performance and Promising Pipeline Present Compelling Buy Opportunity