Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $49.86.

A number of brokerages have recently weighed in on PTGX. JPMorgan Chase & Co. lifted their price target on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Truist Financial began coverage on Protagonist Therapeutics in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. BTIG Research lifted their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th.

Protagonist Therapeutics Stock Up 3.4 %

Shares of Protagonist Therapeutics stock opened at $45.08 on Monday. The stock’s fifty day moving average is $42.73 and its 200-day moving average is $35.19. The firm has a market capitalization of $2.66 billion, a PE ratio of 17.21 and a beta of 2.17. Protagonist Therapeutics has a 12-month low of $13.72 and a 12-month high of $48.00.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. Analysts expect that Protagonist Therapeutics will post 2.32 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at approximately $480,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at approximately $480,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,203 shares of company stock worth $1,311,891 over the last 90 days. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Protagonist Therapeutics by 749.2% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after acquiring an additional 487 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Protagonist Therapeutics in the 1st quarter valued at approximately $35,000. Exchange Traded Concepts LLC acquired a new position in Protagonist Therapeutics in the 3rd quarter valued at approximately $43,000. CWM LLC raised its holdings in Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after acquiring an additional 1,147 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Protagonist Therapeutics in the 1st quarter valued at approximately $69,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.