RBC Capital raised the firm’s price target on PTC Therapeutics to $28 from $22 and keeps a Sector Perform rating on the shares. The company is fresh off a major setback with the recent CHMP decision to withdraw Translarna, and Emflaza going generic, though the updated ‘518 Huntington’s Disease data in Q2 could potentially help re-ignite enthusiasm even without long-term path clarity, the analyst tells investors in a research note. RBC adds that it remains confident in sepiapterin’s likelihood of approval.
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