PTC Therapeutics (PTCT) retains "substantial firepower" for more bolt-on deals to boost synergies and long-term leverage, RBC Capital Markets said in a note Wednesday.

The company has consistently expressed interest in deals to acquire assets that would drive revenue growth, the brokerage said. PTC has indicated a "strong appetite" for late- or commercial-stage assets in rare metabolic and central nervous system diseases, RBC added.

Among the areas for potential expansion is gene therapy for Duchenne muscular dystrophy, the investment firm said, noting that PTC's existing pipeline does not maximize the Duchenne muscular dystrophy network.

RBC has a sector perform rating on PTC Therapeutics, with a price target of $85.

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