11:43 AM EDT, 08/08/2025 (MT Newswires) -- PTC Therapeutics ( PTCT ) Q2 net product revenue and royalties came in modestly ahead of expectations, Morgan Stanley said in a Friday note.

Morgan Stanley added that PTC Therapeutics' ( PTCT ) unchanged 2025 revenue guidance reflected some uncertainty around the contribution from new product launches.

The lower end of the guidance contemplating rapid Emflaza genericization, while the higher end reflects successful new product approvals, including Sephience, a newly approved treatment for sepiapterin-responsive phenylketonuria.

On Thursday, PTC Therapeutics ( PTCT ) posted better-than-expected Q2 results and continued to expect 2025 revenue to be between $650 million and $800 million.

Morgan Stanley has a overweight rating on the company and raised its price target to $76 from $70 on Q2 results and updated Sephience assumptions following its recent approvals in the US and Europe.

Shares of PTC Therapeutics ( PTCT ) were down 7% in recent trading.

Price: 46.85, Change: -3.51, Percent Change: -6.97