BNP Paribas Financial Markets Has $465,000 Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

BNP Paribas Financial Markets cut its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 85.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,292 shares of the biopharmaceutical company's stock after selling 62,654 shares during the period. BNP Paribas Financial Markets' holdings in PTC Therapeutics were worth $465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 270 shares during the period. Sterling Capital Management LLC increased its holdings in shares of PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 522 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth about $68,000. R Squared Ltd bought a new position in shares of PTC Therapeutics during the 4th quarter valued at about $79,000. Finally, KBC Group NV grew its position in shares of PTC Therapeutics by 36.4% in the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock valued at $137,000 after purchasing an additional 813 shares during the period.

Insider Activity

In related news, CEO Matthew B. Klein sold 2,804 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total value of $136,666.96. Following the completion of the sale, the chief executive officer now directly owns 273,234 shares in the company, valued at approximately $13,317,425.16. This trade represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Mark Elliott Boulding sold 1,929 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $46.18, for a total value of $89,081.22. Following the transaction, the vice president now directly owns 103,901 shares in the company, valued at approximately $4,798,148.18. This trade represents a 1.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,264 shares of company stock valued at $1,469,137 in the last quarter. Company insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PTCT. Robert W. Baird dropped their target price on shares of PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $68.00 to $74.00 and gave the company an "overweight" rating in a research report on Tuesday. Cantor Fitzgerald reduced their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Royal Bank of Canada boosted their price target on PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PTC Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $63.75.

PTC Therapeutics Trading Up 3.4%

Shares of NASDAQ:PTCT traded up $1.61 during trading on Thursday, hitting $48.89. 777,100 shares of the company were exchanged, compared to its average volume of 860,828. PTC Therapeutics, Inc. has a fifty-two week low of $28.72 and a fifty-two week high of $58.38. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of -8.23 and a beta of 0.52. The firm has a fifty day moving average price of $46.63 and a two-hundred day moving average price of $47.45.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, beating the consensus estimate of $0.85 by $9.19. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same period in the prior year, the business posted ($1.20) earnings per share. PTC Therapeutics's quarterly revenue was down 9.6% compared to the same quarter last year. As a group, research analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

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.