RBC Capital lowered the firm’s price target on PTC Therapeutics to $26 from $49 and keeps a Sector Perform rating on the shares. The negative CHMP opinion on Translarna adds considerable risk to the company’s main revenue driver and adds to capital concerns ahead of potential Phenylketonuria, or PKU, indication approval and launch, the analyst tells investors in a research note. While there is some possibility that CHMP could reverse course, it is now more likely that EU withdraws the drug, the firm added.
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- PTC Therapeutics price target lowered to $53 from $70 at JPMorgan
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