PTC Therapeutics (PTCT) PT Raised to $52 at Baird

Baird analyst Joel Beatty raised the price target on PTC Therapeutics (NASDAQ: PTCT) to $52.00 (from $48.00) while maintaining a Outperform rating.

The analyst commented: "We're positive on PTCT after we held a KOL earlier today after Friedreich's ataxia; separately, we believe the phase 2 failure of utreloxastat in ALS announced after the close should have little impact on the stock. Beyond this, our price target increase to $52 (+$4), mainly reflects assigning more credit to sepiapterin, which we view as the most crucial agent in the company's portfolio."

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