Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $76.00 at Truist Financial

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective increased by research analysts at Truist Financial from $60.00 to $76.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 32.35% from the stock’s previous close.

A number of other research analysts have also commented on the stock. StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JMP Securities restated a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. The Goldman Sachs Group lowered their price target on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. BMO Capital Markets boosted their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued a $54.00 price objective on shares of Protagonist Therapeutics in a research report on Monday. Two 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.22.

Protagonist Therapeutics Stock Up 2.6 %

Shares of NASDAQ:PTGX traded up $1.48 during midday trading on Tuesday, reaching $57.43. 1,163,026 shares of the company traded hands, compared to its average volume of 722,952. Protagonist Therapeutics has a 12 month low of $24.22 and a 12 month high of $58.58. The firm’s fifty day moving average price is $38.20 and its two-hundred day moving average price is $41.82. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 21.57 and a beta of 2.34.

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

Insiders Place Their Bets

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’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 in the company, valued at $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in Protagonist Therapeutics during the 4th quarter worth approximately $38,000. GF Fund Management CO. LTD. purchased a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $48,000. Covestor Ltd grew its holdings in shares of Protagonist Therapeutics by 5,200.0% in the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after purchasing an additional 1,612 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Protagonist Therapeutics in the third quarter worth $69,000. Finally, KBC Group NV raised its holdings in Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after buying an additional 737 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.