BNP Paribas Financial Markets Increases Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

BNP Paribas Financial Markets lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 263.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,580 shares of the biopharmaceutical company's stock after buying an additional 269,292 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.49% of PTC Therapeutics worth $10,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PTCT. Wellington Management Group LLP boosted its position in PTC Therapeutics by 39.0% during the third quarter. Wellington Management Group LLP now owns 9,436,188 shares of the biopharmaceutical company's stock valued at $211,465,000 after purchasing an additional 2,649,824 shares in the last quarter. Vanguard Group Inc. boosted its position in PTC Therapeutics by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,945,489 shares of the biopharmaceutical company's stock valued at $178,058,000 after purchasing an additional 393,012 shares in the last quarter. Armistice Capital LLC boosted its position in PTC Therapeutics by 90.0% during the third quarter. Armistice Capital LLC now owns 6,150,000 shares of the biopharmaceutical company's stock valued at $137,822,000 after purchasing an additional 2,914,000 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in PTC Therapeutics by 10.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company's stock valued at $25,160,000 after purchasing an additional 104,024 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in PTC Therapeutics by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 610,918 shares of the biopharmaceutical company's stock valued at $16,837,000 after purchasing an additional 14,155 shares in the last quarter.

PTC Therapeutics Price Performance

PTCT stock traded down $0.94 during trading on Friday, hitting $33.10. 646,621 shares of the company traded hands, compared to its average volume of 949,821. The stock's 50-day simple moving average is $29.26 and its 200 day simple moving average is $26.83. The company has a market cap of $2.54 billion, a PE ratio of -4.31 and a beta of 0.63. PTC Therapeutics, Inc. has a 1 year low of $17.53 and a 1 year high of $59.84.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.01. The business had revenue of $210.12 million during the quarter, compared to analyst estimates of $160.27 million. Research analysts expect that PTC Therapeutics, Inc. will post -5.36 earnings per share for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the firm's stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $24.89, for a total value of $83,655.29. Following the sale, the chief executive officer now directly owns 225,807 shares of the company's stock, valued at $5,620,336.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 4,849 shares of company stock valued at $124,107. Company insiders own 5.30% of the company's stock.

Analyst Ratings Changes

PTCT has been the topic of a number of recent research reports. TD Cowen dropped their price objective on PTC Therapeutics from $32.00 to $30.00 and set a "market perform" rating on the stock in a research report on Friday, March 1st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $45.00 price target on shares of PTC Therapeutics in a research note on Friday, April 12th. Royal Bank of Canada increased their price target on PTC Therapeutics from $22.00 to $28.00 and gave the company a "sector perform" rating in a research note on Friday, March 1st. Jefferies Financial Group increased their price target on PTC Therapeutics from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. Finally, Morgan Stanley upgraded PTC Therapeutics from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $28.00 to $30.00 in a research note on Monday, April 29th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, PTC Therapeutics currently has an average rating of "Hold" and an average target price of $33.67.

PTC Therapeutics Company Profile

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.