Morgan Stanley Downgrades PTC Therapeutics to Underweight, Announces $28 Price Target
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Jeffrey Hung has downgraded PTC Therapeutics (NASDAQ:PTCT) from Equal-Weight to Underweight and set a price target of $28.
December 19, 2023 | 2:40 pm
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NEGATIVE IMPACT
Morgan Stanley downgraded PTC Therapeutics from Equal-Weight to Underweight and set a price target of $28.
Analyst downgrades typically lead to a negative short term reaction in the stock price as they suggest a bearish outlook. The new price target of $28 may also indicate a potential decrease in value from the current trading price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100