PTC Therapeutics, Inc. (NASDAQ:PTCT) announced it has gained FDA approval for SEPHIENCE on Monday.

“We are excited to have reached this important milestone for those affected by PKU,” said Matthew B. Klein, M.D., Chief Executive Officer of PTC Therapeutics. “The broad labeling reflects the potential of Sephience to meet the significant unmet need of PKU patients. The Sephience clinical data along with our expertise in launching rare disease therapies position Sephience to become the future standard of care. Our experienced customer facing teams are ready to bring this therapy to children and adults with PKU in the United States as quickly as possible.”

PTC Therapeutics shares gained 11.7% to trade at $49.53 on Tuesday.

These analysts made changes to their price targets on PTC Therapeutics following the announcement.

• UBS analyst Colin Bristow maintained PTC Therapeutics with a Buy and raised the price target from $71 to $80.
• Cantor Fitzgerald analyst Kristen Kluska maintained PTC Therapeutics with an Overweight rating and raised the price target from $112 to $120.
• Wells Fargo analyst Tiago Fauth maintained the stock with an Overweight rating and raised the price target from $74 to $78.
• Barclays analyst Gena Wang maintained PTC Therapeutics with an Equal-Weight rating and raised the price target from $42 to $46.

Considering buying PTCT stock? Here’s what analysts think:

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