PTC Therapeutics rises as J.P.Morgan raises PT on potential drug launches

Shares of PTC Therapeutics PTCT.O rise 4.6% to $55.17 in morning trade

Brokerage J.P.Morgan raises PT to $78 from $72, representing a 47.8% upside to the stock's last close

"We continue to see PTCT shares as under-appreciated by the Street ahead of two compelling launches in established markets" - J.P. Morgan says

PTC expects regulatory decisions on co's drugs - sepiapterin to treat the genetic condition phenylketonuria (PKU), and vatiquinone to treat nervous system disorder Friedreich ataxia - this year

Brokerage says current peak sales estimate of ~$700 mln by 2031 for sepiapterin is "overly conservative"

Nine of 15 brokerages rate the stock "buy" or higher, four "hold", two "sell" or lower; their median PT is $63.92, according to data compiled by LSEG

Up to last close, PTCT has risen 71.3% in the past 12 months