BNP Paribas Financial Markets Lowers Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

BNP Paribas Financial Markets lessened its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 85.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 270 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 522 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in PTC Therapeutics in the fourth quarter worth $68,000. R Squared Ltd purchased a new position in PTC Therapeutics in the fourth quarter worth $79,000. Finally, KBC Group NV increased its stake in PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock valued at $137,000 after acquiring an additional 813 shares during the last quarter.

PTC Therapeutics Price Performance

PTCT traded up $1.93 during midday trading on Tuesday, reaching $47.86. 1,619,949 shares of the company's stock traded hands, compared to its average volume of 861,375. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38. The firm has a fifty day moving average of $47.17 and a two-hundred day moving average of $47.42. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of -8.06 and a beta of 0.52.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PTCT shares. Barclays cut their price objective on PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Citigroup upgraded shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and reduced their price target for the company from $50.00 to $40.00 in a research report on Wednesday, May 7th. Robert W. Baird decreased their price target on shares of PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Bank of America raised shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the company from $55.00 to $68.00 in a research note on Friday, May 9th. Finally, Wall Street Zen lowered shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.75.

Insiders Place Their Bets

In related news, VP Mark Elliott Boulding sold 883 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $46.02, for a total value of $40,635.66. Following the sale, the vice president now directly owns 103,901 shares of the company's stock, valued at $4,781,524.02. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew B. Klein sold 2,804 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total value of $136,666.96. Following the transaction, the chief executive officer now directly owns 273,234 shares of the company's stock, valued at $13,317,425.16. This represents a 1.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,264 shares of company stock worth $1,469,137. 5.50% of the stock is currently owned by corporate insiders.

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.