Wedbush Starts PTC Therapeutics (PTCT) at Outperform
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Price: $25.21 -0.79%
Rating Summary:
8 Buy, 9 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
8 Buy, 9 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Wedbush initiated coverage on PTC Therapeutics (NASDAQ: PTCT) with an Outperform rating and a price target of $55.00. Analyst Christopher N. Marai thinks the company is poised for success.
"We believe that the market has broadly overlooked ataluren's efficacy in Phase IIb trials in nmDMD; and we estimate that their confirmatory trial is highly likely to yield a positive-read out in mid-2015. Given lessons learned about the natural history of DMD and ataluren in past trials, PTC has enriched and substantially derisked the ongoing Phase III trial. PTC will also initiate a Phase III trial of ataluren in nmCF, results are expected in 2015. PTC holds worldwide rights to ataluren and it is not competitive with other late-stage development candidates for DMD or CF."
For an analyst ratings summary and ratings history on PTC Therapeutics (NASDAQ: PTCT) click here. For more ratings news on PTC Therapeutics click here.
Shares of PTC Therapeutics closed at $17.17 yesterday.
"We believe that the market has broadly overlooked ataluren's efficacy in Phase IIb trials in nmDMD; and we estimate that their confirmatory trial is highly likely to yield a positive-read out in mid-2015. Given lessons learned about the natural history of DMD and ataluren in past trials, PTC has enriched and substantially derisked the ongoing Phase III trial. PTC will also initiate a Phase III trial of ataluren in nmCF, results are expected in 2015. PTC holds worldwide rights to ataluren and it is not competitive with other late-stage development candidates for DMD or CF."
For an analyst ratings summary and ratings history on PTC Therapeutics (NASDAQ: PTCT) click here. For more ratings news on PTC Therapeutics click here.
Shares of PTC Therapeutics closed at $17.17 yesterday.
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