Citi analyst Joel Beatty raised his price target for PTC Therapeutics to $35 on expectations that outside the U.S. Translarna sales and U.S. Emflaza sales growth will continue in 2018. Further, the analyst sees the potential for upside from additional Phase 2 data on spinal muscular atrophy agent RG7916 and from a trial design update on plans to generate dystrophin production data for Translarna in pursuit of accelerated approval. Beatty added U.S. Translarna sales back into his model, probability-adjusted at 10%, after yesterday's update from PTC that FDA will allow an accelerated approval pathway to be pursued for the drug. The analyst keeps a Buy rating on the shares.

Reports Q1 revenue $210M, consensus $169.7M. "We are off to a strong start in 2024, with outstanding commercial performance and achievement of all planned clinical and regulatory milestones for the first quarter," said Matthew Klein, M.D., Chief Executive Officer, PTC Therapeutics, Inc. "We remain on track to achieve the many planned 2024 clinical and regulatory milestones, including global regulatory submissions for sepiapterin."