UBS upgraded PTC Therapeutics to Buy from Neutral with a $47 price target after resuming coverage of the name. With multiple new drug application filings this year and potential commercial launches next year along with upcoming clinical catalysts, there is upside potential for the shares, the analyst tells investors in a research note. The firm thinks investor focus on Translarna headwinds following the surprising removal from the European Union market has left many of PTC’s pipeline programs underappreciated at current levels. UBS sees upside into the potential phenylketonuria approval and launch in 2025.
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Read More on PTCT:
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- PTC Therapeutics Q2 Financial Performance and Updates Webinar
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