PTC Therapeutics: WMS May Provide Near-Term Upside, Says Oppenheimer


In a research report released today, analyst Christopher Marai of Oppenheimer maintained an Outperform rating on PTC Therapeutics (NASDAQ:PTCT) with a $60 price target, which represents a potential upside of 47% from where the stock is currently trading.

Marai wrote, “World Muscle Society Congress (WMS) (Oct. 7-11) places focus on Translarna’a EU launch and an FDA regulatory path update that may provide near-term upside. EU launch is under way, but the P3 DMD readout in Oct./Nov. 2015 is the focus. EU launch revs have not been the focus of investors we speak with. We conservatively est. EU price of $250,000/year and 2015 EU sales of $13M starting in 2H15, with peak sales in nonsense mutation DMD in the EU of $325M/year.

The analyst added, “We believe that the Street underestimates the nmCF Translarna opportunity. Translarna treats the most severe patients with CF, those not producing any CFTR protein; it is not competitive with—and can potentially be complemented by-Vertex’s therapies.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Christopher Marai has a total average return of 9.7% and a 50.0% success rate. Marai has a 59.4% average return when recommending PTCT, and is ranked #846 out of 3318 analysts.

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