PTC Therapeutics upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Jeffrey Hung upgraded PTC Therapeutics (PTCT) to Overweight from Equal Weight with a price target of $67, up from $45. The firm likes the setup for PTC shares heading into the new year following multiple recent positive updates, in contrast to the regulatory headwinds the company faced for nearly every program a little over a year ago. Heading into 2025, Morgan Stanley continues to believe that one of the main focuses for investors will be potential approval and launch of sepiapterin by the July 29 PDUFA date.