Barclays analyst Gena Wang lowered the firm’s price target on PTC Therapeutics to $26 from $44 and keeps an Equal Weight rating on the shares. The negative Committee for Medicinal Products for Human Use opinion for Translarna full approval in Duchenne muscular dystrophy with non-sense mutation is somewhat surprising to most investors, but not completely unexpected given twice failed confirmatory studies, the analyst tells investors in a research note. The firm expects a high probability of reaffirming the negative decision.
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