BTIG Research Raises Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $51.00

Protagonist Therapeutics (NASDAQ:PTGX) had its target price boosted by BTIG Research from $41.00 to $51.00 in a research report released on Wednesday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. HC Wainwright reissued a buy rating and issued a $38.00 price target on shares of Protagonist Therapeutics in a research note on Friday, June 14th. JMP Securities restated a market outperform rating and set a $45.00 price target on shares of Protagonist Therapeutics in a research note on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $42.80.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX opened at $40.28 on Wednesday. The company’s 50-day moving average is $33.64 and its two-hundred day moving average is $29.62. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 16.51 and a beta of 2.13. Protagonist Therapeutics has a 1-year low of $13.72 and a 1-year high of $42.67.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, May 7th. The company reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.75. The business had revenue of $254.95 million during the quarter, compared to analyst estimates of $300.00 million. As a group, equities analysts anticipate that Protagonist Therapeutics will post 2.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $35.00, for a total value of $280,000.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $420,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $35.00, for a total value of $280,000.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $420,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $35.19, for a total value of $1,231,650.00. Following the transaction, the chief executive officer now directly owns 515,415 shares of the company’s stock, valued at $18,137,453.85. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock valued at $1,831,650 in the last ninety days. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Protagonist Therapeutics by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,228,394 shares of the company’s stock worth $53,850,000 after acquiring an additional 80,639 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Protagonist Therapeutics by 353.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,675 shares of the company’s stock worth $153,000 after buying an additional 5,202 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Protagonist Therapeutics by 11.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,338 shares of the company’s stock worth $237,000 after buying an additional 1,093 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Protagonist Therapeutics during the fourth quarter worth approximately $210,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Protagonist Therapeutics by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 455,321 shares of the company’s stock valued at $10,441,000 after buying an additional 16,219 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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.