Protagonist Therapeutics (NASDAQ:PTGX) Given New $38.00 Price Target at The Goldman Sachs Group

Protagonist Therapeutics (NASDAQ:PTGX) had its target price cut by analysts at The Goldman Sachs Group from $43.00 to $38.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 1.23% from the stock’s current price.

Several other equities analysts also recently commented on PTGX. HC Wainwright upped their price target on shares of Protagonist Therapeutics from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Monday. JMP Securities reissued a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. Wedbush reaffirmed an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.44.

Protagonist Therapeutics Trading Down 3.1 %

Shares of NASDAQ:PTGX traded down $1.21 during trading on Monday, reaching $37.54. 408,537 shares of the stock were exchanged, compared to its average volume of 549,259. Protagonist Therapeutics has a 12 month low of $24.22 and a 12 month high of $48.89. The stock has a 50-day moving average price of $38.37 and a 200-day moving average price of $41.93. The firm has a market cap of $2.24 billion, a PE ratio of 14.14 and a beta of 2.22.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million. On average, sell-side analysts expect that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the transaction, the chief executive officer now owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arturo Md Molina sold 26,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the sale, the insider now owns 46,444 shares in the company, valued at approximately $2,076,046.80. The trade was a 35.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. grew its position in Protagonist Therapeutics by 127.2% during the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock worth $3,782,000 after acquiring an additional 45,674 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Protagonist Therapeutics during the third quarter valued at about $1,107,000. Swedbank AB bought a new stake in shares of Protagonist Therapeutics during the third quarter worth about $2,250,000. Charles Schwab Investment Management Inc. raised its holdings in Protagonist Therapeutics by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock valued at $25,448,000 after buying an additional 39,850 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Protagonist Therapeutics by 3,099.4% during the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock worth $14,437,000 after buying an additional 310,804 shares during the period. 98.63% of the stock is currently owned by institutional investors.

About Protagonist Therapeutics

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.