Assenagon Asset Management S.A. Has $18.27 Million Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Assenagon Asset Management S.A. lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 32.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 492,464 shares of the biopharmaceutical company's stock after purchasing an additional 119,637 shares during the period. Assenagon Asset Management S.A. owned approximately 0.64% of PTC Therapeutics worth $18,270,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PTCT. Choreo LLC raised its position in PTC Therapeutics by 4.1% in the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company's stock worth $356,000 after purchasing an additional 452 shares during the last quarter. Arizona State Retirement System raised its position in shares of PTC Therapeutics by 3.4% during the second quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company's stock worth $590,000 after acquiring an additional 636 shares during the last quarter. Creative Planning lifted its stake in shares of PTC Therapeutics by 8.1% during the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company's stock valued at $406,000 after acquiring an additional 816 shares during the period. Diversified Trust Co boosted its holdings in PTC Therapeutics by 5.6% in the second quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company's stock valued at $468,000 after acquiring an additional 818 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in PTC Therapeutics by 9.3% during the 1st quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company's stock worth $533,000 after purchasing an additional 1,564 shares during the last quarter.

PTC Therapeutics Stock Performance

PTCT stock traded down $0.65 during mid-day trading on Friday, hitting $40.75. 948,356 shares of the company were exchanged, compared to its average volume of 856,984. PTC Therapeutics, Inc. has a 1-year low of $17.53 and a 1-year high of $43.40. The firm's 50 day simple moving average is $36.03 and its 200 day simple moving average is $33.95. The firm has a market cap of $3.13 billion, a P/E ratio of -6.46 and a beta of 0.65.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.16). The company had revenue of $186.70 million for the quarter, compared to analyst estimates of $192.12 million. On average, equities research analysts predict that PTC Therapeutics, Inc. will post -5.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on PTCT shares. Barclays raised their target price on shares of PTC Therapeutics from $25.00 to $31.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. Morgan Stanley raised their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company an "equal weight" rating in a research note on Friday, October 11th. Robert W. Baird reiterated an "outperform" rating and set a $44.00 target price on shares of PTC Therapeutics in a research report on Tuesday, October 8th. Cantor Fitzgerald restated an "overweight" rating and issued a $64.00 price target on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Finally, Raymond James initiated coverage on PTC Therapeutics in a research note on Thursday, October 10th. They set a "market perform" rating for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $40.08.

PTC Therapeutics Company 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.