Truist analyst Robyn Karnauskas downgraded PTC Therapeutics to Hold from Buy with a price target of $25, down from $45. The analyst is citing the company’s “financing/development hurdles” overshadowing the key strengths in its portfolio. Truist adds that it would turn more constructive on the stock if PTC can resolve concerns over its Blackstone Agreement, secure capital to support PKU launch, and show positive Phe-tolerance OLE data supporting full commercial potential.
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