Protagonist Therapeutics (NASDAQ:PTGX) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report issued on Monday,Benzinga reports. The firm currently has a $50.00 price target on the stock. HC Wainwright also issued estimates for Protagonist Therapeutics’ Q4 2024 earnings at ($0.41) EPS, FY2024 earnings at $1.82 EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.53) EPS, Q4 2025 earnings at $0.87 EPS, FY2025 earnings at ($0.38) EPS, FY2026 earnings at ($1.55) EPS, FY2027 earnings at ($0.41) EPS and FY2028 earnings at $2.81 EPS.

Other research analysts have also issued reports about the stock. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JMP Securities dropped their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Wedbush reiterated an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Monday, November 4th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Protagonist Therapeutics has an average rating of “Buy” and a consensus target price of $53.57.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX opened at $41.04 on Monday. The business’s 50 day moving average price is $45.66 and its 200-day moving average price is $38.49. Protagonist Therapeutics has a 1 year low of $15.58 and a 1 year high of $48.89. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 15.43 and a beta of 2.17.

Insider Activity

In other news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 12,000 shares in the company, valued at $540,000. This trade represents a 40.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 in the company, valued at $1,555,370.40. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PTGX. Pacer Advisors Inc. lifted its position in Protagonist Therapeutics by 405,061.2% during the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock valued at $78,034,000 after buying an additional 1,733,662 shares in the last quarter. Millennium Management LLC increased its holdings in Protagonist Therapeutics by 2,135.6% in the second quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock valued at $33,205,000 after buying an additional 915,418 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in Protagonist Therapeutics by 27.6% during the 2nd quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after buying an additional 274,412 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Protagonist Therapeutics by 813.4% in the 2nd quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock valued at $10,307,000 after acquiring an additional 264,900 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at approximately $5,467,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

About Protagonist Therapeutics

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.