PTC Therapeutics (PTCT -1.8%) is volatile today on heavy volume. Traders are attributing the...

PTC Therapeutics (PTCT -1.8%) is volatile today on heavy volume. Traders are attributing the action to Wedbush initiating the stock earlier with an Outperform rating and a hefty $55 price target. The firm thinks that the market has broadly overlooked ataluren's efficacy in Phase IIb trials in nmDMD, and the confirmatory trial is highly likely to yield a positive-read out in mid-2015. Wedbush's new coverage comes on the coattails of Credit Suisse, who started the shares with an Outperform yesterday.