Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Average Recommendation of “Buy” by Brokerages

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has received a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $55.89.

A number of research analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 7th. JPMorgan Chase & Co. upped their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday. BMO Capital Markets assumed coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $62.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $54.00 price target on shares of Protagonist Therapeutics in a report on Monday. Finally, StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th.

Insider Activity at Protagonist Therapeutics

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 stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.40% of the stock is owned by company insiders.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its position in Protagonist Therapeutics by 4.5% in the fourth quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock worth $241,000 after buying an additional 270 shares in the last quarter. Maryland State Retirement & Pension System increased its position in Protagonist Therapeutics by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock worth $779,000 after buying an additional 278 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Protagonist Therapeutics by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after buying an additional 295 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Protagonist Therapeutics by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after buying an additional 300 shares in the last quarter. Finally, KBC Group NV increased its position in Protagonist Therapeutics by 54.4% in the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after buying an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Trading Down 0.5 %

Protagonist Therapeutics stock opened at $38.45 on Thursday. The business’s fifty day simple moving average is $37.87 and its two-hundred day simple moving average is $41.76. 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 $2.36 billion, a price-to-earnings ratio of 14.45 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Friday, February 21st. The company reported $1.98 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 the consensus estimate of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. On average, equities research analysts predict that Protagonist Therapeutics will post 2.43 EPS for the current year.

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.