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

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have received a consensus recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have covered the stock in the last year is $47.33.

Several research analysts have weighed in on PTGX shares. JMP Securities lowered their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Truist Financial assumed coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price target for the company. BTIG Research boosted their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $44.77 on Thursday. The business has a fifty day moving average of $40.40 and a 200-day moving average of $33.51. The firm has a market cap of $2.63 billion, a PE ratio of 18.35 and a beta of 2.17. Protagonist Therapeutics has a twelve month low of $13.72 and a twelve month high of $48.00.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. On average, analysts anticipate that Protagonist Therapeutics will post 2.31 EPS for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares of the company’s stock, valued at $540,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the sale, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. The disclosure for this sale can be found here. Insiders sold a total of 30,203 shares of company stock valued at $1,311,891 over the last ninety days. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its position in Protagonist Therapeutics by 179.8% during the 1st quarter. GSA Capital Partners LLP now owns 55,359 shares of the company’s stock valued at $1,602,000 after acquiring an additional 35,571 shares in the last quarter. Vanguard Group Inc. raised its stake in Protagonist Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after buying an additional 39,055 shares during the last quarter. Kynam Capital Management LP raised its stake in Protagonist Therapeutics by 10.2% during the 4th quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock valued at $45,972,000 after buying an additional 186,218 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in Protagonist Therapeutics during the 4th quarter valued at $4,606,000. Finally, Opaleye Management Inc. purchased a new stake in Protagonist Therapeutics during the 4th quarter valued at $2,584,000. Hedge funds and other institutional investors 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.