Protagonist Therapeutics (NASDAQ:PTGX) PT Raised to $60.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price target raised by JMP Securities from $47.00 to $60.00 in a research report sent to investors on Wednesday, Price Targets.com reports. JMP Securities currently has an outperform rating on the stock.

PTGX has been the subject of a number of other reports. Zacks Investment Research cut Protagonist Therapeutics from a hold rating to a sell rating in a report on Thursday, October 7th. SVB Leerink lifted their price objective on Protagonist Therapeutics from $35.00 to $50.00 and gave the company an outperform rating in a research note on Tuesday. Northland Securities upgraded Protagonist Therapeutics from a market perform rating to an outperform rating and set a $40.00 price objective for the company in a research note on Monday. HC Wainwright reiterated a buy rating and issued a $50.00 price objective (down previously from $60.00) on shares of Protagonist Therapeutics in a research note on Monday, September 20th. Finally, JPMorgan Chase & Co. upgraded Protagonist Therapeutics from a neutral rating to an overweight rating and lifted their price objective for the company from $49.00 to $55.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $53.89.

Shares of Protagonist Therapeutics stock opened at $31.80 on Wednesday. The business has a 50-day moving average of $37.23 and a 200 day moving average of $36.71. Protagonist Therapeutics has a 12 month low of $12.80 and a 12 month high of $50.54. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -16.56 and a beta of 1.56.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Wednesday, August 4th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.14). Protagonist Therapeutics had a negative net margin of 299.39% and a negative return on equity of 30.58%. The firm had revenue of $2.27 million for the quarter, compared to analysts’ expectations of $5.60 million. Equities research analysts anticipate that Protagonist Therapeutics will post -2.53 EPS for the current year.

In other news, insider David Y. Liu sold 14,779 shares of the business’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $47.56, for a total value of $702,889.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Eagle Bay Advisors LLC acquired a new position in Protagonist Therapeutics during the second quarter worth $45,000. O Shaughnessy Asset Management LLC acquired a new position in Protagonist Therapeutics during the first quarter worth $57,000. Royal Bank of Canada grew its holdings in Protagonist Therapeutics by 179.3% during the first quarter. Royal Bank of Canada now owns 3,324 shares of the company’s stock worth $86,000 after acquiring an additional 2,134 shares during the period. FORA Capital LLC acquired a new position in Protagonist Therapeutics during the second quarter worth $123,000. Finally, Ameritas Investment Partners Inc. grew its holdings in Protagonist Therapeutics by 11.7% during the second quarter. Ameritas Investment Partners Inc. now owns 3,241 shares of the company’s stock worth $145,000 after acquiring an additional 340 shares during the period.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc a clinical-stage biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address unmet medical needs. Its product pipeline include PTG-300, PTG-200, and PN-943 The company was founded by Mark L. Smythe on August 22, 2006 and is headquartered in Newark, CA.

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Analyst Recommendations for Protagonist Therapeutics (NASDAQ:PTGX)

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