PTC Therapeutics (PTCT) PT Raised to $15 at Credit Suisse
- Banks, telecoms lead Wall Street up; another Dow record
- Western Digital (WDC) Raises Q2 Outlook
- bluebird bio (BLUE) to Offer $200M of Common Stock
- Dave & Buster's Entertainment (PLAY) Tops Q3 EPS by 11c, Raises FY Revenue Guidance
- After-Hours Stock Movers 12/06: (PLAY) (ANTH) (WDC) Higher; (AVAV) (ESV) (BLUE) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Credit Suisse analyst Alethia Young raised her price target on PTC Therapeutics (NASDAQ: PTCT) to $15.00 (from $6.00) after doc checks around Translarna launch but maintained a Neutral rating.
Young commented, "We increased our ramp speed in EU/ROW and gross price realized for the drug after our checks and company comments. In speaking to physicians, we think continued low levels of discontinuations are very encouraging for commercial progress as well. General awareness has increased from our earlier checks and risk/benefit remains very favorable with the drug. Our new 2025 probability adjusted sales are $237M vs. prior $177M. At this level, we think upside comes from full confidence around EU approval which would increase our FV to $22/sh or ~42% upside from our base case (excluding CF, SMA). If EU cystic fibrosis is successful in 1Q17, this opportunity could add $30/share. We maintain our Neutral rating until we get more certainty on regulatory needs in EMA and progress in the U.S."
Shares of PTC Therapeutics closed at $13.59 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cowen Downgrades Nike (NKE) to Neutral; Sees Lower Guidance
- UPDATE: Stifel Downgrades Arc Logistics Partners (ARCX) to Hold
- Despite OLED and GM Concerns, All Bodes Well for Apple (AAPL) iPhone 8 Super Cycle - Credit Suisse
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesCredit Suisse
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!