PTC Therapeutics upgraded to Market Perform at Raymond James after EC decision

As previously reported, Raymond James analyst Danielle Brill upgraded PTC Therapeutics to Market Perform from Underperform following this morning’s news that the European Commission decided against adoption of the CHMP’s recommendation to pull Translarma from the market in Europe for the treatment of DMD patients with nonsense mutations. The EC having rejected the CHMP’s recommendation and instead asking for another re-evaluation is “an unprecedented move,” says the analyst, adding that the EC asking the CHMP to further consider data from patient registries, and real-world evidence “all but guarantees that the CHMP will change their opinion.”