BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 26,773 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 472,288 shares of the biopharmaceutical company’s stock after acquiring an additional 26,773 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.61% of PTC Therapeutics worth $17,522,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Burney Co. bought a new position in PTC Therapeutics in the first quarter valued at approximately $1,223,000. Assenagon Asset Management S.A. lifted its stake in shares of PTC Therapeutics by 21.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock valued at $11,401,000 after purchasing an additional 66,596 shares during the period. Bank of New York Mellon Corp grew its stake in shares of PTC Therapeutics by 17.1% during the second quarter. Bank of New York Mellon Corp now owns 279,049 shares of the biopharmaceutical company’s stock worth $8,533,000 after purchasing an additional 40,840 shares during the period. Renaissance Technologies LLC grew its stake in shares of PTC Therapeutics by 7.4% during the second quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock worth $25,017,000 after purchasing an additional 56,700 shares during the period. Finally, Quest Partners LLC increased its holdings in PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 18,171 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PTCT shares. Robert W. Baird upped their price target on PTC Therapeutics from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Barclays upped their price objective on shares of PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $64.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 17th. Finally, UBS Group started coverage on PTC Therapeutics in a research report on Monday, August 26th. They set a “buy” rating and a $47.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.00.

PTC Therapeutics Stock Performance

NASDAQ PTCT opened at $43.23 on Friday. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -7.28 and a beta of 0.63. PTC Therapeutics, Inc. has a 52 week low of $20.75 and a 52 week high of $46.98. The stock’s 50 day moving average price is $39.30 and its two-hundred day moving average price is $35.81.

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.