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Investing.com - Evercore ISI reiterated its Outperform rating on PTC Therapeutics (NASDAQ:PTCT), a $3.86 billion market cap company with impressive revenue growth of 91% over the last twelve months, following the European Union’s approval of the company’s drug Sephience.
The approval in the EU represents a significant milestone for PTC Therapeutics and could set a precedent for the upcoming July 29 PDUFA date in the United States, according to Evercore ISI. InvestingPro analysis shows the company maintains excellent financial health with strong growth prospects, with additional insights available in the comprehensive Pro Research Report.
The research firm noted that the EU approval might also support potential future approvals in other markets including Japan and Brazil, expanding the global reach of Sephience.
Evercore ISI indicated it anticipates PTC Therapeutics will provide additional information regarding pricing strategy, ongoing discussions with payers, and potential early adopters of the newly approved treatment.
The firm maintained its view that the potential approval and subsequent launch of Sephience will be the primary catalyst for PTC Therapeutics stock performance over the next 12 months.
In other recent news, PTC Therapeutics has been the focus of multiple analyst updates and forecasts. Truist Securities initiated coverage with a buy rating, citing the potential launches of sepiapterin for phenylketonuria (PKU) and vatiquinone for Friedreich’s ataxia as key catalysts, with projected peak sales exceeding $2 billion. RBC Capital raised its price target for PTC Therapeutics from $58 to $60, maintaining an Outperform rating, and highlighted positive developments ahead of the sepiapterin PDUFA date. Citi maintained a Neutral rating with a $40 price target, emphasizing the ongoing evaluation of PTC518 for Huntington’s disease and its alignment with FDA pathways. RBC Capital also reiterated its Outperform rating, noting the potential impact of competitor QURE’s FDA alignment on PTC (NASDAQ:PTC)’s programs. BofA Securities upgraded PTC Therapeutics to a Buy rating, increasing the price target to $68, driven by revised estimates for the PKU program’s peak sales. The analysts noted the company’s strong cash position, which supports its valuation. These developments reflect a varied but generally optimistic outlook for PTC Therapeutics’ upcoming product launches and financial health.
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