PTC Therapeutics price target raised to $63 from $60 at RBC Capital

RBC Capital analyst Brian Abrahams raised the firm’s price target on PTC Therapeutics (PTCT) to $63 from $60 and keeps an Outperform rating on the shares. The firm’s survey of physician specialists indicates that given dissatisfaction with current PKU treatments, meaningful anticipated switches off Kuvan, and sustained use of brandeds in the space, the launch and long-term global sales opportunity for PTC’s sepiapterin should be substantial at about $700M, the analyst tells investors in a research note.