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UPDATE: Bank Of America Reiterates On PTC Therapeutics On Positive Outlook

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In a report published Monday, Bank of America analyst Tazeen Ahmad reiterated a Buy rating on PTC Therapeutics (NASDAQ: PTCT), but lowered the price target from $50.00 to $48.00.

In the report, Bank of America noted, “We rate PTCT shares Buy. We use what we view as conservative assumptions for our sales ramp estimates for the key pipeline product ataluren in both the DMD and CF indications. Our view of ataluren's favorable safety profile, focus on rare disease categories with undermet need, lack of near term competition and expected near-term EU launch provide allows us to arrive at an NPV for PTCT shares that is significantly above the stock's current valuation.”

PTC Therapeutics closed on Friday at $34.59.

Latest Ratings for PTCT

DateFirmActionFromTo
May 2019UpgradesNeutralBuy
Apr 2019Initiates Coverage OnOutperform
Nov 2018MaintainsOverweightOverweight

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View the Latest Analyst Ratings

Posted-In: Bank of America Tazeen AhmadAnalyst Color Price Target Analyst Ratings

 

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