PTC Therapeutics price target raised to $45 from $43 at Barclays

Barclays raised the firm’s price target on PTC Therapeutics (PTCT) to $45 from $43 and keeps an Equal Weight rating on the shares. After approvals in the European Union and UK, and multiple filing delays in the U.S., the FDA granted approval for Kebilidi with a broad label in aromatic l-amino acid decarboxylase, as well as a priority review voucher, the analyst tells investors in a research note. The firm says this is a “major positive regulatory milestone” for PTC although the revenue contribution is likely to be modest.