Principal Financial Group Inc. Increases Stock Holdings in PTC Therapeutics, Inc. $PTCT

Principal Financial Group Inc. boosted its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 7.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 515,001 shares of the biopharmaceutical company’s stock after buying an additional 36,104 shares during the quarter. Principal Financial Group Inc. owned approximately 0.62% of PTC Therapeutics worth $35,087,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PTCT. Janus Henderson Group PLC boosted its holdings in PTC Therapeutics by 28.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock worth $368,587,000 after acquiring an additional 1,077,776 shares during the last quarter. State Street Corp lifted its position in shares of PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after purchasing an additional 1,071,343 shares in the last quarter. Toronto Dominion Bank boosted its holdings in PTC Therapeutics by 27.5% during the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after purchasing an additional 891,690 shares during the last quarter. BNP Paribas Financial Markets grew its position in PTC Therapeutics by 4,013.1% in the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock worth $62,945,000 after purchasing an additional 808,515 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in PTC Therapeutics by 587.5% in the 4th quarter. SG Americas Securities LLC now owns 894,461 shares of the biopharmaceutical company’s stock worth $67,943,000 after purchasing an additional 764,364 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank Of Canada lifted their target price on shares of PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wells Fargo & Company lifted their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Zacks Research upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Finally, Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $75.00 to $108.00 in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.43.

PTC Therapeutics Stock Up 0.1%

PTC Therapeutics stock opened at $78.59 on Friday. The firm has a 50 day moving average price of $76.77 and a 200-day moving average price of $72.80. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $90.87. The company has a market capitalization of $6.52 billion, a P/E ratio of -33.73, a P/E/G ratio of 4.50 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter in the previous year, the firm posted $10.04 EPS. PTC Therapeutics’s revenue was up 43.5% on a year-over-year basis. Equities analysts expect that PTC Therapeutics, Inc. will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Mark Elliott Boulding sold 5,079 shares of PTC Therapeutics stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $85.08, for a total value of $432,121.32. Following the completion of the sale, the vice president owned 105,272 shares of the company’s stock, valued at approximately $8,956,541.76. This trade represents a 4.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 2,464 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.25, for a total value of $222,376.00. Following the completion of the sale, the insider owned 60,299 shares in the company, valued at $5,441,984.75. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 201,512 shares of company stock valued at $16,550,087 over the last ninety days. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.