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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 value goal (~38% upside primarily based on Aug. 23 shut).
- Analyst Eliana Merle stated 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 software for vatiquinone to the FDA is anticipated by the tip of the yr.
- “We assume the deal with Translarna headwinds (shocking removing from the market in Europe) has left lots of the firm’s different packages underappreciated,” Merle wrote.
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Source: Seekingalpha