PTC Therapeutics在RBC的评级被下调，因为Sepience的销售价格被定价

2025-12-02 00:28

RBC Capital Markets has downgraded PTC Therapeutics (PTCT) to sector perform from outperform, saying that its current share price already factors in sales from hyperphenylalaninemia treatment Sephience (sepiapterin).
The firm, however, increased its price target to $91 from $82 (~6% upside based on Nov. 28 close).
Analyst Brian Abrahams said that although Sephience has done well since its launch earlier this years, shares are up ~75% in the last three months.
"While we could see some additional momentum for shares, particularly if they beat on 4QE, which now looks more likely to us, with Sephience at a $7.5B market cap, now reflecting ~4x peak adjusted sales, we see less room for significant additional appreciation," he noted.
Abrahams added that a proprietary survey of 15 physicians who treat patients with sepiapterin-responsive phenylketonuria (PKU) found that two-thirds of them have patients on the treatment, with ~20% of their total patients on Sephience.
PTC is down ~4% in Monday morning trading.

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