PTC Therapeutics price target raised to $51 from $15 at JPMorgan

JPMorgan analyst Eric Joseph raised his price target for PTC Therapeutics to $51 heading into risdiplam clinical updates for both Type 1 and Type 2/3 spinal muscular atrophy at World Muscle next week. The analyst sees 15% share swings on definitively positive and negative data. Joseph believes the World Muscle conference creates incremental upside potential but that longer term appreciation is based on execution. He keeps a Neutral rating on PTC Therapeutics.
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