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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 based mostly on Aug. 23 shut).
- Analyst Eliana Merle stated the potential rise is as a result 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 concentrate on Translarna headwinds (shocking removing from the market in Europe) has left most of the firm’s different applications underappreciated,” Merle wrote.
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Source: Seekingalpha