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In a report published Monday, Credit Suisse analyst Jason Kantor initiated coverage on
PTC TherapeuticsPTCT with an Outperform rating and $24.00 price target.
In the report, Credit Suisse noted, “Our bullish thesis is based on the demonstrated activity of Ataluren in two orphan genetic diseases: Duchenne muscular dystrophy (DMD) and cystic fibrosis (CF). Together, these represent a $1B market opportunity for a highly targeted patient group, not served by other drugs in development.”
PTC Therapeutics closed on Friday at $16.94.
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