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PCT Therapeutics Rises on Analyst Upgrade

PTC Therapeutics Inc. (NASDAQ: PTCT) traded higher Friday following the release of an incredibly positive analyst report. Oppenheimer reiterated an Outperform rating but lowered its price target to $135 from $155, still implying incredible upside.

The results from the PTC Phase 4 trial highlighted a statistically significant benefit in pre-specified subgroup of 99 patients, which Oppenheimer believes is supportive of the U.S. Food and Drug Administration’s (FDA’s) approval for Translarna, and satisfies conditional approval requirements in the European Union.

Importantly, the meta-analysis was “okayed” with the FDA during protocol determination for statistical-analysis and the predefined subset analysis is in line with the FDA draft guidance for Duchenne muscular dystrophy (DMD). Promisingly, data in...