Assenagon Asset Management S.A. Has $6.69 Million Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Assenagon Asset Management S.A. raised its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 366.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,661 shares of the biopharmaceutical company's stock after purchasing an additional 190,628 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.32% of PTC Therapeutics worth $6,688,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Rathbones Group PLC bought a new position in PTC Therapeutics during the 3rd quarter worth $532,000. Charles Schwab Investment Management Inc. increased its position in PTC Therapeutics by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,763 shares of the biopharmaceutical company's stock worth $13,373,000 after buying an additional 23,288 shares during the period. Jacobs Levy Equity Management Inc. increased its position in PTC Therapeutics by 10.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company's stock worth $25,160,000 after buying an additional 104,024 shares during the period. Walleye Capital LLC increased its position in PTC Therapeutics by 958.6% during the 3rd quarter. Walleye Capital LLC now owns 72,030 shares of the biopharmaceutical company's stock worth $1,614,000 after buying an additional 65,226 shares during the period. Finally, Neo Ivy Capital Management increased its position in PTC Therapeutics by 2,437.6% during the 3rd quarter. Neo Ivy Capital Management now owns 11,800 shares of the biopharmaceutical company's stock worth $264,000 after buying an additional 11,335 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PTCT. Morgan Stanley cut PTC Therapeutics from an "equal weight" rating to an "underweight" rating and set a $28.00 price target on the stock. in a research report on Tuesday, December 19th. TD Cowen decreased their price target on PTC Therapeutics from $32.00 to $30.00 and set a "market perform" rating on the stock in a research report on Friday, March 1st. Cantor Fitzgerald restated an "overweight" rating and issued a $45.00 price target on shares of PTC Therapeutics in a research report on Friday, March 1st. Royal Bank of Canada raised their price target on PTC Therapeutics from $22.00 to $28.00 and gave the stock a "sector perform" rating in a research report on Friday, March 1st. Finally, Jefferies Financial Group lifted their target price on PTC Therapeutics from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, March 20th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $33.53.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,107 shares of PTC Therapeutics stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $27.15, for a total value of $274,405.05. Following the completion of the sale, the chief executive officer now directly owns 168,155 shares in the company, valued at $4,565,408.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Mark Elliott Boulding sold 1,457 shares of the business's stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $28.64, for a total transaction of $41,728.48. Following the completion of the sale, the vice president now owns 73,921 shares in the company, valued at $2,117,097.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew B. Klein sold 10,107 shares of the business's stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $27.15, for a total value of $274,405.05. Following the sale, the chief executive officer now owns 168,155 shares of the company's stock, valued at approximately $4,565,408.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,788 shares of company stock worth $821,819. 5.30% of the stock is owned by corporate insiders.

PTC Therapeutics Stock Down 1.2 %

Shares of PTCT stock traded down $0.35 during mid-day trading on Friday, reaching $29.09. 1,083,977 shares of the stock traded hands, compared to its average volume of 875,535. The stock's fifty day simple moving average is $27.95 and its two-hundred day simple moving average is $25.42. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -3.48 and a beta of 0.67. PTC Therapeutics, Inc. has a 1-year low of $17.53 and a 1-year high of $59.84.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.53). The company had revenue of $307.06 million during the quarter, compared to the consensus estimate of $315.90 million. On average, equities research analysts anticipate that PTC Therapeutics, Inc. will post -5.95 EPS for the current fiscal year.

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.