BNP Paribas Financial Markets Increases Stock Holdings in PTC Therapeutics, Inc. $PTCT

BNP Paribas Financial Markets lifted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 4,013.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 828,662 shares of the biopharmaceutical company’s stock after buying an additional 808,515 shares during the quarter. BNP Paribas Financial Markets’ holdings in PTC Therapeutics were worth $62,945,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WCM Investment Management LLC purchased a new stake in PTC Therapeutics in the third quarter valued at approximately $8,919,000. Teachers Retirement System of The State of Kentucky raised its stake in PTC Therapeutics by 86.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock valued at $3,103,000 after purchasing an additional 19,000 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in PTC Therapeutics in the fourth quarter valued at approximately $4,191,000. Jefferies Financial Group Inc. purchased a new stake in PTC Therapeutics in the third quarter valued at approximately $97,252,000. Finally, Ritholtz Wealth Management purchased a new stake in PTC Therapeutics in the fourth quarter valued at approximately $1,863,000.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $73.80 on Tuesday. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of -31.67, a P/E/G ratio of 6.70 and a beta of 0.55. The company’s 50 day moving average price is $69.59 and its 200-day moving average price is $72.41. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.42. The business had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.04 earnings per share. As a group, equities research analysts forecast that PTC Therapeutics, Inc. will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Lee Scott Golden sold 829 shares of PTC Therapeutics stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $67.99, for a total value of $56,363.71. Following the sale, the executive vice president owned 79,115 shares in the company, valued at $5,379,028.85. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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, VP Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock in a transaction on Friday, May 15th. The shares were sold at an average price of $72.18, for a total transaction of $202,970.16. Following the completion of the sale, the vice president owned 105,212 shares in the company, valued at approximately $7,594,202.16. This trade represents a 2.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 115,022 shares of company stock valued at $7,925,979 over the last quarter. 5.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PTCT shares. Royal Bank Of Canada raised their target price on shares of PTC Therapeutics from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Barclays reaffirmed an “overweight” rating and issued a $120.00 target price on shares of PTC Therapeutics in a research note on Monday, February 23rd. Bank of America lowered their target price on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Finally, Raymond James Financial started coverage on shares of PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

About PTC Therapeutics

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.