RBC Capital lowered the firm’s price target on PTC Therapeutics to $23 from $26 and keeps a Sector Perform rating on the shares. The company’s Q3 results marked “solid” sales and “improved” balance sheet, but also notes that its key launch has been delayed by a “regulatory back and forth”, the analyst tells investors in a research note. PTC will need to prove they can finally successfully navigate the U.S. regulatory process before the stock can work, the firm added.
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Read More on PTCT:
- PTC Therapeutics price target lowered to $45 from $48 at JPMorgan
- PTC Therapeutics downgraded to Sell from Neutral at Citi
- PTC Therapeutics price target lowered to $25 from $26 at Barclays
- PTC Therapeutics falls 16% to $20.01 after below-consensus Q3 results
- PTC Therapeutics sees FY23 revenue $940M-$1.0B, consensus $938.32M