Leerink lowered the firm’s price target on PTC Therapeutics to $30 from $44 and keeps a Market Perform rating on the shares. Following the company’s announcement that the Committee for Medicinal Products for Human Use of the European Medicines Agency adopted a negative opinion on both the conversion to full marketing approval and the renewal of the existing conditional marketing authorization for Translarna in Duchenne muscular dystrophy, the firm is updating its model to reflect its updated outlook on Translarna.
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Read More on PTCT:
- PTC Therapeutics price target lowered to $26 from $49 at RBC Capital
- PTC Therapeutics price target lowered to $53 from $70 at JPMorgan
- PTC Therapeutics price target lowered to $26 from $44 at Barclays
- PTC Therapeutics downgraded to Neutral from Buy at Citi
- PTC Therapeutics downgraded to Underperform from Outperform at Raymond James