BNP Paribas Financial Markets Has $62.95 Million Stock Holdings in PTC Therapeutics, Inc. $PTCT

Key Points

• BNP Paribas Financial Markets sharply increased its stake in PTC Therapeutics by 4,013.1% in the fourth quarter, ending with 828,662 shares worth about $62.9 million.
• PTC Therapeutics reported better-than-expected quarterly results, posting a smaller-than-expected loss of $0.03 per share on revenue of $272.6 million, which was up 43.5% year over year.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and an average price target of $89, while company insiders have sold shares in recent months, including CEO Matthew B. Klein.

BNP Paribas Financial Markets increased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 4,013.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 828,662 shares of the biopharmaceutical company's stock after buying an additional 808,515 shares during the period. BNP Paribas Financial Markets owned about 1.03% of PTC Therapeutics worth $62,945,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in PTC Therapeutics during the 4th quarter worth approximately $4,087,000. Eurizon Capital SGR S.p.A. bought a new position in PTC Therapeutics during the 4th quarter worth approximately $120,000. Jupiter Asset Management Ltd. bought a new position in PTC Therapeutics during the 4th quarter worth approximately $27,434,000. Intech Investment Management LLC raised its holdings in PTC Therapeutics by 22.7% during the 4th quarter. Intech Investment Management LLC now owns 34,691 shares of the biopharmaceutical company's stock worth $2,635,000 after purchasing an additional 6,413 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in PTC Therapeutics by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,016,062 shares of the biopharmaceutical company's stock worth $153,164,000 after purchasing an additional 65,184 shares during the last quarter.

PTC Therapeutics Trading Down 0.1%

PTCT opened at $73.80 on Tuesday. The company's fifty day moving average price is $69.59 and its two-hundred day moving average price is $72.41. PTC Therapeutics, Inc. has a 1-year low of $43.17 and a 1-year high of $87.50. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -31.67, a PEG ratio of 6.70 and a beta of 0.55.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same quarter in the prior year, the company posted $10.04 earnings per share. The business's revenue was up 43.5% on a year-over-year basis. As a group, equities analysts forecast that PTC Therapeutics, Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on PTCT shares. Cantor Fitzgerald restated an "overweight" rating on shares of PTC Therapeutics in a report on Friday, February 20th. Wall Street Zen lowered shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. Morgan Stanley restated an "overweight" rating and set a $94.00 price target on shares of PTC Therapeutics in a report on Friday, May 8th. Raymond James Financial started coverage on shares of PTC Therapeutics in a report on Friday, April 10th. They set an "outperform" rating and a $108.00 price target for the company. Finally, TD Cowen upgraded shares of PTC Therapeutics from a "hold" rating to a "buy" rating and raised their price target for the stock from $75.00 to $90.00 in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $89.00.

Insider Activity at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 12,572 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $72.95, for a total transaction of $917,127.40. Following the completion of the transaction, the chief executive officer owned 393,998 shares in the company, valued at approximately $28,742,154.10. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Lee Scott Golden sold 10,000 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $63.38, for a total transaction of $633,800.00. Following the transaction, the executive vice president owned 79,944 shares of the company's stock, valued at $5,066,850.72. This represents a 11.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 115,022 shares of company stock valued at $7,925,979 in the last 90 days. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Company 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.

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