Principal Financial Group Inc. Sells 5,646 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

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

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. lifted its stake in shares of PTC Therapeutics by 14.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 54,014 shares of the biopharmaceutical company’s stock worth $2,004,000 after acquiring an additional 6,634 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in PTC Therapeutics by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,795 shares of the biopharmaceutical company’s stock worth $549,000 after purchasing an additional 5,783 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 492 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of PTC Therapeutics by 32.1% during the third quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock valued at $18,270,000 after purchasing an additional 119,637 shares during the period. Finally, Creative Planning boosted its position in PTC Therapeutics by 8.1% in the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 816 shares during the period.

Analyst Ratings Changes

PTCT has been the subject of several research analyst reports. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Morgan Stanley lifted their target price 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. JPMorgan Chase & Co. increased their price target on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Robert W. Baird lifted their price objective on PTC Therapeutics from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, UBS Group started coverage on shares of PTC Therapeutics in a report on Monday, August 26th. They set a “buy” rating and a $47.00 target price on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.00.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $42.99 on Tuesday. The stock has a market cap of $3.32 billion, a PE ratio of -7.28 and a beta of 0.63. The stock has a 50-day moving average of $39.30 and a two-hundred day moving average of $35.88. PTC Therapeutics, Inc. has a one year low of $20.75 and a one year high of $46.98.

About PTC Therapeutics

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.