Protagonist Therapeutics (NASDAQ:PTGX) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note released on Tuesday morning,Benzinga reports. They currently have a $50.00 price objective on the stock.

PTGX has been the subject of a number of other reports. JMP Securities lowered their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Wedbush restated an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Truist Financial began coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $53.57.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $38.65 on Tuesday. Protagonist Therapeutics has a 1 year low of $16.63 and a 1 year high of $48.89. The firm has a 50 day moving average price of $45.55 and a 200 day moving average price of $38.90. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 14.64 and a beta of 2.17.

Insider Transactions at Protagonist Therapeutics

In other news, insider Arturo Md Molina sold 1,906 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the transaction, the insider now directly owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,109 shares of company stock valued at $1,069,999. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after buying an additional 487 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Protagonist Therapeutics during the third quarter valued at $43,000. Russell Investments Group Ltd. bought a new stake in Protagonist Therapeutics during the first quarter valued at $35,000. CWM LLC increased its stake in Protagonist Therapeutics by 910.3% during the third quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Protagonist Therapeutics during the third quarter valued at $69,000. Institutional investors 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.