Citi Reiterates Neutral Rating on PTC Therapeutics (PTCT)

Citi analyst Geoff Meacham reiterated a Neutral rating and $40.00 price target on PTC Therapeutics (NASDAQ: PTCT).

The analyst comments "Alignment between FDA and UniQure (not covered) on the use of external control data and composite Unified Huntington’s Disease Rating Scale (cUHDRS) for AMT-130’s (gene therapy for HD) accelerated approval pathway offers a potential view on the path forward for PTC’s PTC518 (oral splicer for HD), we think. Acknowledgement by FDA of the ENROLL-HD registry — the same used by PTC in its phase 2 PIVOT-HD 24-month comparative analysis — could be a positive, given PIVOT-HD’s interim data demonstrated a stat-sig slowing on cUHDRS for ‘518 vs. a propensity-matched natural history cohort. However, we note the agency wants a three-year change in cUHDRS as the primary efficacy analysis for AMT-130’s BLA and highlight ‘518’s data as it stands would likely be insufficient for its own accelerated path forward. See (here) for more of our thoughts on PIVOT-HD’s 24-month interim. Maintain Neutral and $40 TP."

For an analyst ratings summary and ratings history on PTC Therapeutics click here. For more ratings news on PTC Therapeutics click here.

Shares of PTC Therapeutics closed at $48.52 yesterday.

You May Also Be Interested In

• Trump Bought At Least $100,001 In Palantir Shares, Disclosure Shows - Bloomberg
• Allison Transmission to join S&P MidCap 400, Goodyear to move to S&P SmallCap 600
• Wolfe Research Upgrades FOX Corp. (FOXA) to Outperform