Cantor Fitzgerald analyst Kristen Kluska lowered the firm’s price target on PTC Therapeutics to $51 from $73 and keeps an Overweight rating on the shares post the Q3 report. The analyst says the sepiapterin filing delay will likely be viewed as a disappointment. Although many of the regulatory items are up in the air or being finalized, PTC has now removed its capital overhang, the analyst tells investors in a research note.
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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