Citi analyst Joel Beatty raised his price target for PTC Therapeutics (PTCT) to $18 from $15 and keeps a Buy rating on the shares. The biopharmaceutical company closed yesterday up 76c to $14.31. The analyst increased his probability of approval for Translarna in Duchenne muscular dystrophy to 25% from 20% after the FDA scheduled an advisory panel meeting for September. He believes the shares are worth $59 if Translarna is approved in the U.S. and and $8 if the drug is not approved. The risk/reward is favorable for a U.S. Translarna approval while the Emflaza launch should exceed low Street expectations, Beatty tells investors in a research note. He maintains a Buy rating on PTC. Sarepta Therapeutics' (SRPT) Exondys 51 has already received FDA approval as a treatment for Duchenne muscular dystrophy.