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- PTC Therapeutics (NASDAQ:PTCT) is up ~2% in Monday buying and selling after UBS resumed coverage of the inventory with a buy rating.
- The agency has a $47 worth goal (~38% upside primarily based on Aug. 23 shut).
- Analyst Eliana Merle mentioned the potential rise is on account of an underappreciation of the corporate’s pipeline. The biotech has two candidates, sepiapterin and vatiquinone, for, respectively, phenylketonuria and Friedreich ataxia.
- Applications for sepiapterin have been submitted to the U.S. FDA and the European Medicines Agency, whereas an utility for vatiquinone to the FDA is predicted by the tip of the 12 months.
- “We assume the deal with Translarna headwinds (shocking removing from the market in Europe) has left most of the firm’s different applications underappreciated,” Merle wrote.
Source: Seekingalpha