Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $53.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price target upped by JPMorgan Chase & Co. from $51.00 to $53.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, December 10th. Wedbush reissued an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. BMO Capital Markets assumed coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 price target on the stock. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group began coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.33.

Protagonist Therapeutics Trading Up 1.0 %

NASDAQ PTGX opened at $37.58 on Tuesday. Protagonist Therapeutics has a 12 month low of $24.22 and a 12 month high of $48.89. The company has a market capitalization of $2.24 billion, a PE ratio of 14.13 and a beta of 2.22. The stock has a 50-day simple moving average of $39.51 and a 200 day simple moving average of $41.90.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.05. The business had revenue of $4.68 million for the quarter, compared to the consensus estimate of $4.50 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, sell-side analysts predict that Protagonist Therapeutics will post 2.28 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the transaction, the insider now owns 46,444 shares of the company’s stock, valued at $2,076,046.80. The trade was a 35.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.96, for a total value of $3,687,299.20. Following the completion of the sale, the chief executive officer now directly owns 435,208 shares of the company’s stock, valued at approximately $20,437,367.68. The trade was a 15.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,863 shares of company stock valued at $9,689,847. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of 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 purchasing an additional 45,674 shares during the last quarter. New York State Teachers Retirement System bought a new position in Protagonist Therapeutics during the third quarter worth about $1,107,000. Swedbank AB acquired a new position in Protagonist Therapeutics during the third quarter worth approximately $2,250,000. Charles Schwab Investment Management Inc. raised its stake in Protagonist Therapeutics by 7.6% in the third 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 period. Finally, Principal Financial Group Inc. lifted its position in shares of Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after buying an additional 310,804 shares during the last quarter. Institutional investors and hedge funds 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.