Protagonist Therapeutics (NASDAQ:PTGX) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note released on Tuesday,RTT News reports. They currently have a $58.00 price objective on the stock.

PTGX has been the subject of a number of other reports. BTIG Research lifted their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped 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. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday. JMP Securities dropped 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. Finally, Truist Financial began coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $53.57.

Protagonist Therapeutics Trading Down 4.3 %

Shares of NASDAQ:PTGX opened at $38.65 on Tuesday. Protagonist Therapeutics has a 1-year low of $16.63 and a 1-year high of $48.89. The stock has a market cap of $2.30 billion, a PE ratio of 14.64 and a beta of 2.17. The stock’s fifty day simple moving average is $45.55 and its two-hundred day simple moving average is $38.90.

Insider Transactions at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 1,906 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the transaction, the insider now directly owns 46,444 shares in the company, valued at $1,903,275.12. The trade was a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were 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 in the company, valued at approximately $540,000. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,109 shares of company stock valued at $1,069,999. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after buying an additional 487 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics during the first quarter valued at approximately $35,000. Exchange Traded Concepts LLC purchased a new position in shares of Protagonist Therapeutics during the third quarter worth approximately $43,000. CWM LLC lifted its holdings in shares of Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after acquiring an additional 1,147 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at $69,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.