Zurcher Kantonalbank Zurich Cantonalbank Acquires 884 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 6.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,413 shares of the biopharmaceutical company’s stock after buying an additional 884 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PTC Therapeutics were worth $572,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Armistice Capital LLC grew its position in PTC Therapeutics by 2.9% during the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after acquiring an additional 198,227 shares during the last quarter. Cowen AND Company LLC grew its holdings in shares of PTC Therapeutics by 0.8% in the second quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock worth $114,873,000 after purchasing an additional 30,843 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of PTC Therapeutics by 7.4% in the second quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock worth $25,017,000 after buying an additional 56,700 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after buying an additional 47,902 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in PTC Therapeutics by 32.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock valued at $18,270,000 after buying an additional 119,637 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PTCT shares. Citigroup boosted their price objective on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $64.00 price target on shares of PTC Therapeutics in a research report on Tuesday, September 17th. The Goldman Sachs Group lifted their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday. Raymond James initiated coverage on PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating for the company. Finally, Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $52.38.

Insider Transactions at PTC Therapeutics

In related news, VP Mark Elliott Boulding sold 85,600 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00. Following the transaction, the vice president now owns 92,389 shares in the company, valued at $4,828,249.14. The trade was a 48.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christine Marie Utter sold 17,800 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $51.77, for a total transaction of $921,506.00. Following the sale, the chief accounting officer now owns 52,428 shares of the company’s stock, valued at approximately $2,714,197.56. This represents a 25.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 196,950 shares of company stock valued at $10,251,735. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Down 0.7 %

PTC Therapeutics stock opened at $48.04 on Friday. PTC Therapeutics, Inc. has a twelve month low of $23.58 and a twelve month high of $54.16. The company has a market capitalization of $3.70 billion, a P/E ratio of -8.09 and a beta of 0.63. The stock’s 50 day moving average is $41.49 and its 200 day moving average is $36.78.

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.