PTC Therapeutics (PTCT) PT Raised to $70 at Citi, 'Post-data, we increased our sepiapterin POS to 90%'

Citi analyst David Lebowitz raised the price target on PTC Therapeutics (NASDAQ: PTCT) to $70.00 (from $67.00) while maintaining a Buy rating.

The analyst comments "Today, PTCT held a call to discuss positive sepiapterin (PTC923) pivotal data in phenylketonuria (PKU) and competitive dynamics. Given the deeper phenylalanine (Phe) response on sepiapterin compared to Kuvan, the therapy could carve out a meaningful share of the PKU market, despite headwinds due to Kuvan generics. Based on safety and efficacy results thus far, the therapy appears approvable for PKU with a broad age label. Post-data, we increased our sepiapterin POS to 90%, leading to our new PT of $70, up from $67. We reiterate our Buy rating on shares."

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