PTC Therapeutics price target raised to $26 from $18 at Citi

Citi analyst David Lebowitz raised the firm’s price target on PTC Therapeutics to $26 from $18 and keeps a Sell rating on the shares. The firm cites the company having announced that the European Commission has opted to not adopt the CHMP’s negative opinion for Translarna, implying the therapy will remain marketed under its current conditional marketing authorization until further review. European Commission’s ecision to not ratify the CHMP’s negative opinion temporarily removes a key headwind for PTC Therapeutics in 2024, though the drug could still eventually be pulled with timing “unclear”, the analyst tells investors in a research note.