Rockefeller Capital Management L.P. Cuts Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Rockefeller Capital Management L.P. lessened its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 493,588 shares of the biopharmaceutical company’s stock after selling 5,556 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in PTC Therapeutics were worth $18,312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Choreo LLC increased its stake in shares of PTC Therapeutics by 4.1% in the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock valued at $356,000 after purchasing an additional 452 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 492 shares in the last quarter. KBC Group NV increased its stake in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares in the last quarter. Arizona State Retirement System increased its stake in PTC Therapeutics by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 636 shares in the last quarter. Finally, Creative Planning increased its stake in PTC Therapeutics by 8.1% during the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock worth $406,000 after buying an additional 816 shares in the last quarter.

Analysts Set New Price Targets

PTCT has been the subject of several research reports. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Robert W. Baird boosted their price objective on PTC Therapeutics from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays boosted their price objective on PTC Therapeutics from $31.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.69.

PTC Therapeutics Stock Performance

PTCT opened at $43.88 on Monday. PTC Therapeutics, Inc. has a one year low of $22.47 and a one year high of $47.24. The stock has a market capitalization of $3.38 billion, a PE ratio of -7.39 and a beta of 0.63. The business’s 50 day moving average price is $40.22 and its 200 day moving average price is $36.32.

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.