Surprisingly, I held on to this stock until the market closed today. It was pretty much of a gamble at this point because this stock is honestly worth junk right now. The analyst valuate this stock as 15 and under, but it ended up finishing at 20. It fluctuated around 20 dollars, but I knew for sure it wouldn’t go past 25. I just had a feeling that the big dogs were going initiate their master plan soon. Also, I have a hunch there’s more to it behind PTCT’s movement.
Now this stock may confuse many people because the news is that FDA probably won’t approve the PTC’s translarna drug for treatment of dystrophinopathy. Currently, the FDA is requesting more data to prove efficacy, so they know for sure that the drug works. However, the fact is, FDA’s equivalent in Europe already gave the okay/go for PTCT to use the drug for DMD in their countries, because not only are they aware, but FDA is also aware that there is no other treatment for DMD that is more effective than translarna by PTCT.
There are many equivalent stories like SRPT and etc..,but what we’re focused on is the fact that the panel has not yet rejected the drug. This is enough information for big dogs to gamble with. It’s more likely that the translarna drug has more potential than a possible loss for the investors who are holding on to the stocks right now. This is the reason why the stock hasn’t actually fell down yet. I believe the target price will be 25 dollars, depending on FDA’s approval of Translarna. This is the reason why the price fluctuated around 20, between 15 and 25, 15 being what it would be worth if it fails and 25 if it succeeds.