PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 45.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,676 shares of the biopharmaceutical company’s stock after selling 5,646 shares during the quarter. Principal Financial Group Inc.’s holdings in PTC Therapeutics were worth $248,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PTCT. Burney Co. acquired a new position in PTC Therapeutics during the first quarter valued at $1,223,000. Assenagon Asset Management S.A. boosted its position in PTC Therapeutics by 21.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock worth $11,401,000 after purchasing an additional 66,596 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of PTC Therapeutics by 17.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 279,049 shares of the biopharmaceutical company’s stock worth $8,533,000 after purchasing an additional 40,840 shares during the period. Renaissance Technologies LLC increased its holdings in shares of PTC Therapeutics by 7.4% during the 2nd quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock valued at $25,017,000 after purchasing an additional 56,700 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of PTC Therapeutics in the 3rd quarter valued at $835,000.

PTC Therapeutics Trading Down 0.6 %

PTCT opened at $42.99 on Tuesday. PTC Therapeutics, Inc. has a twelve month low of $20.75 and a twelve month high of $46.98. The firm has a market capitalization of $3.32 billion, a PE ratio of -7.28 and a beta of 0.63. The firm’s 50-day moving average price is $39.30 and its 200 day moving average price is $35.88.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PTCT. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of PTC Therapeutics in a report on Tuesday, September 17th. Robert W. Baird lifted their price target on PTC Therapeutics from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Raymond James assumed coverage on PTC Therapeutics in a research report on Thursday, October 10th. They set a “market perform” rating on the stock. Morgan Stanley boosted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. increased their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PTC Therapeutics currently has a consensus rating of “Hold” and an average target price of $42.00.

PTC Therapeutics Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.