Information Provided By:
Fly News Breaks for May 13, 2019
May 13, 2019 | 07:32 EDT
As previous reported, BofA/Merrill analyst Tazeen Ahmad upgraded PTC Therapeutics to Buy from Neutral and raised its price target to $49 from $43 following the data update at the American Academy of Neurology conference for risdiplam in the treatment of spinal muscular atrophy. Ahmad now has a higher conviction risdiplam will reach the market and be successfully marketed by partner Roche. His un-risk adjusted peak sales estimate is $4.8B, much higher than PTC's $2B estimate, equating to $700M in royalty payments in peak sales years. Tazeen also updated his model to include $75M i pipeline value for the company's early stage gene splicing program and expects investor interest to start to shift to PTC's fully owned pipeline in the near future.
News For PTCT From the Last 2 Days
There are no results for your query PTCT