BofA lowered the firm’s price target on PTC Therapeutics to $23 from $43 and keeps an Underperform rating on the shares after the company hosted a conference call on Friday as it “sought to allay concerns” about a recent negative CHMP decision on full EU approval for Translarna. The decision by the CHMP “casts further doubt on the future of Translarna,” particularly given the continued delay on U.S. approval, the analyst tells investors.
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