Baird tells investors in a research note that it is an incremental positive that the FDA has granted Fast Track Designation to PTC Therapeutics’ PTC518 for Huntington’s disease. The firm, which made no change to its Outperform rating or $44 price target on PTC shares, views PTC518 as a “particularly promising” long-term opportunity in PTC’s pipeline, given the randomized, controlled phase 2 data to date, and says the next key catalyst for the stock is the potential acceptance of the Sepiapterin NDA for review by the FDA.
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