PTC Therapeutics Halved After Receipt of Refuse To File Letter For Translama

PTC Therapeutics

shares are trading lower by $15.85 at $12.41 in Tuesday's session. Investors are abansoning the issue after the receipt of refuse to file letter for Translama. Adding to the downside momentum is downgrade at JP Morgan to Neutral and reduced target price target price to $22 as well as removal from its Focus list. Following a sharply lower, it managed a bounce to $17 before continuing its move lower. Is has surpassed its former all time low ($13.03), that was made off its IPO in June 2013 at $13.03. At this time, it current low stands at $12.30 and it has not been able to distance itself from that level.