Protagonist Therapeutics (NASDAQ:PTGX) Given New $57.00 Price Target at JPMorgan Chase & Co.

Protagonist Therapeutics (NASDAQ:PTGX) had its price target raised by JPMorgan Chase & Co. from $53.00 to $57.00 in a research report sent to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also issued reports on PTGX. StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group cut their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. HC Wainwright reiterated a “buy” rating and set a $54.00 price target on shares of Protagonist Therapeutics in a report on Monday. BMO Capital Markets assumed coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.89.

Protagonist Therapeutics Trading Up 0.4 %

Shares of PTGX opened at $38.66 on Tuesday. The stock has a market capitalization of $2.37 billion, a PE ratio of 14.53 and a beta of 2.34. The firm’s 50 day moving average is $37.89 and its 200-day moving average is $41.78. Protagonist Therapeutics has a 12 month low of $24.22 and a 12 month high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $2.07. The business had revenue of $170.64 million for the quarter, compared to analyst estimates of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Equities research analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farallon Capital Management LLC boosted its holdings in Protagonist Therapeutics by 1.2% during the fourth quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company’s stock worth $228,898,000 after purchasing an additional 69,000 shares during the last quarter. RTW Investments LP boosted its holdings in Protagonist Therapeutics by 1.3% during the fourth quarter. RTW Investments LP now owns 5,498,545 shares of the company’s stock worth $212,244,000 after purchasing an additional 72,433 shares during the last quarter. State Street Corp boosted its holdings in Protagonist Therapeutics by 52.9% during the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after purchasing an additional 1,101,218 shares during the last quarter. BVF Inc. IL boosted its holdings in Protagonist Therapeutics by 2.7% during the fourth quarter. BVF Inc. IL now owns 1,900,015 shares of the company’s stock worth $73,341,000 after purchasing an additional 49,848 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Protagonist Therapeutics by 8.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock worth $72,432,000 after purchasing an additional 142,376 shares during the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.