PTC Therapeutics (PTCT) PT Cut To $40 At Barclays After Sizable Translarna Miss

Barclays analyst, Gena Wang, reiterated her Equalweight rating on shares of PTC Therapeutics (NASDAQ: PTCT) and cut her price target to $40 from $43 after the company reported 3Q18 revenue of $53 million and missed consensus expectations by 24% due to weak Translarna revenue of $30.4M vs expectations of $45.8M.

The analyst did not explicitly state whether she thinks this problem is transitory but noted 4 catalysts in 2019 and that the 5-year growth rate of 15% is unchanged.

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 $37.90 yesterday.

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