Protagonist Therapeutics (NASDAQ:PTGX) Downgraded to “Hold” at BidaskClub

BidaskClub lowered shares of Protagonist Therapeutics (NASDAQ:PTGX) from a buy rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

Several other research firms have also commented on PTGX. Svb Leerink reissued an outperform rating on shares of Protagonist Therapeutics in a report on Tuesday, August 13th. Nomura reaffirmed a buy rating and set a $29.00 price target on shares of Protagonist Therapeutics in a report on Sunday, August 11th. ValuEngine lowered shares of Protagonist Therapeutics from a strong-buy rating to a buy rating in a report on Monday, September 30th. HC Wainwright set a $23.00 price target on shares of Protagonist Therapeutics and gave the company a buy rating in a report on Friday, August 2nd. Finally, Zacks Investment Research raised shares of Protagonist Therapeutics from a hold rating to a buy rating and set a $14.00 price target on the stock in a report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $20.00.

PTGX stock traded up $0.19 during trading hours on Friday, reaching $10.12. The stock had a trading volume of 953,900 shares, compared to its average volume of 198,223. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.12 and a quick ratio of 4.12. Protagonist Therapeutics has a fifty-two week low of $5.49 and a fifty-two week high of $16.67. The stock has a market capitalization of $334.91 million, a PE ratio of -5.82 and a beta of 1.74. The stock has a 50-day simple moving average of $12.34 and a 200 day simple moving average of $11.89.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Wednesday, November 6th. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.10. Protagonist Therapeutics had a negative net margin of 209.02% and a negative return on equity of 62.50%. The firm had revenue of $4.14 million for the quarter, compared to analyst estimates of $5.75 million. On average, sell-side analysts forecast that Protagonist Therapeutics will post -3.24 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at approximately $926,000. Rhumbline Advisers boosted its position in Protagonist Therapeutics by 20.7% during the 3rd quarter. Rhumbline Advisers now owns 15,540 shares of the company’s stock worth $187,000 after buying an additional 2,662 shares during the period. Tuttle Tactical Management acquired a new stake in Protagonist Therapeutics during the 3rd quarter worth approximately $313,000. Meeder Asset Management Inc. boosted its position in Protagonist Therapeutics by 1,433.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,450 shares of the company’s stock worth $41,000 after buying an additional 3,225 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Protagonist Therapeutics by 63.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 19,486 shares of the company’s stock worth $236,000 after buying an additional 7,586 shares during the period. 73.53% of the stock is currently owned by institutional investors.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.

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Analyst Recommendations for Protagonist Therapeutics (NASDAQ:PTGX)

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