Jefferies Sees Limited Impact for PTC Therapeutics (PTCT) After Sarepta's Eteplirsen was Approved
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
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
Shares of PTC Therapeutics closed at $10.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Spark Therapeutics (ONCE) SPK-9001 FIX Levels Still Best-in-Class But More Steroid Use - Jefferies
- Bellicum Pharma (BLCM) Luncheon Today May Offer Insight Into Expedited Approval For Non-Malig Immunodeficiency Therapy - Jefferies
- Chardan Capital Markets Positive on Alnylam (ALNY) as ASH Data Reinforces Potential for RNAi Across Hemophilia and AIP
Create E-mail Alert Related CategoriesAnalyst Comments, FDA, Trader Talk
Related EntitiesJefferies & Co, Gena Wang
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!