Jefferies Sees Limited Impact for PTC Therapeutics (PTCT) After Sarepta's Eteplirsen was Approved

September 20, 2016 9:05 AM EDT
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Jefferies analyst Gena Wang sees limited impact to PTC Therapeutics (NASDAQ: PTCT) from Sarepta Therapeutics (NASDAQ: SRPT) eteplirsen approval.

Wang commented, "Understandably, mgmt will be seeking additional interactions with the FDA. In fact, the company had already filed an appeal to the FDA in 2Q16 (link). Eteplirsen approval could pressure the FDA to reconsider the review progress of ataluren, although we think the final outcome would likely remain the same."

The analyst notes although PTCT’s ataluren is considered safe, the FDA approval of eteplirsen is mainly based on the marginal increase of dystrophin level while PTCT does not have any dystrophin data from Ph3.

The firm maintained a Hold rating price target of $7.00

For an analyst ratings summary and ratings history on PTC Therapeutics click here. For more ratings news on PTC Therapeutics click here.

Shares of PTC Therapeutics closed at $10.99 yesterday.

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