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Fly News Breaks for April 9, 2015
VRTX, PTCT
Apr 9, 2015 | 07:27 EDT
Deutsche Bank analyst Alethia Young raised her price target for shares of PTC Therapeutics (PTCT) to $115 from $75 saying the company's earnings power is similar to Vertex (VRTX). Young's checks with doctors suggested PTC's market opportunities in Duchenne muscular dystrophy and Cystic Fibrosis nonsense mutations could be larger than previously thought. After Reuters reported on February 23 the company may be soliciting a sale, Young believes a 25% takeout premium has been baked into the stock. Her M&A valuations range from $130 to $172 per share. She keeps a Buy rating on PTC Therapeutics.
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