Citi raised the firm’s price target on PTC Therapeutics (PTCT) to $32 from $26 and keeps a Sell rating on the shares. The firm updated the company’s model to reflect the Novartis collaboration, which it notes boosts PTC’s liquidity position to $2B. The PTC518 collaboration “brings big pharma muscle and big cash upfront,” the analyst tells investors in a research note.
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