BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 6.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 472,288 shares of the biopharmaceutical company's stock after purchasing 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.

Several other institutional investors have also modified their holdings of the company. KBC Group NV lifted its position in PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock valued at $83,000 after acquiring an additional 504 shares during the last quarter. CWM LLC boosted its stake in shares of PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company's stock worth $100,000 after buying an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company's stock valued at $104,000 after acquiring an additional 492 shares during the last quarter. Quest Partners LLC acquired a new position in shares of PTC Therapeutics in the second quarter valued at approximately $128,000. Finally, Quarry LP increased its stake in PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock valued at $153,000 after buying an additional 2,500 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PTCT shares. Baird R W raised PTC Therapeutics to a "strong-buy" rating in a report on Wednesday, September 4th. StockNews.com downgraded PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price target on PTC Therapeutics from $51.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. Cantor Fitzgerald reissued an "overweight" rating and set a $64.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Finally, Morgan Stanley lifted their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $42.00.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT traded up $0.34 during midday trading on Friday, hitting $43.23. 548,739 shares of the company's stock traded hands, compared to its average volume of 709,532. The firm's fifty day moving average price is $39.30 and its two-hundred day moving average price is $35.84. The company has a market cap of $3.33 billion, a PE ratio of -7.28 and a beta of 0.63. PTC Therapeutics, Inc. has a twelve month low of $20.75 and a twelve month high of $46.98.

PTC Therapeutics 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.