Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Consensus Rating of “Buy” by Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has earned an average rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $53.78.

Several research firms have recently commented on PTGX. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, December 10th. Wedbush restated an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. The Goldman Sachs Group assumed coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued a “neutral” rating and a $47.00 price target on the stock. Finally, BMO Capital Markets started coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 price objective for the company.

Protagonist Therapeutics Trading Up 3.5 %

Protagonist Therapeutics stock opened at $38.10 on Wednesday. Protagonist Therapeutics has a 1-year low of $24.21 and a 1-year high of $48.89. The firm has a market cap of $2.27 billion, a P/E ratio of 14.32 and a beta of 2.23. The firm has a 50-day moving average of $40.35 and a 200-day moving average of $41.74.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.05. The firm had revenue of $4.68 million for the quarter, compared to analyst estimates of $4.50 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Research analysts forecast that Protagonist Therapeutics will post 2.28 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the completion of the transaction, the insider now directly owns 46,444 shares of the company’s stock, valued at approximately $2,076,046.80. The trade was a 35.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the transaction, the chief executive officer now owns 435,208 shares in the company, valued at approximately $20,437,367.68. This represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,863 shares of company stock valued at $9,689,847 in the last quarter. 5.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PTGX. Nisa Investment Advisors LLC grew its position in Protagonist Therapeutics by 10.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after purchasing an additional 295 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Protagonist Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after acquiring an additional 379 shares during the period. GAMMA Investing LLC grew its holdings in shares of Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after acquiring an additional 487 shares during the period. Exchange Traded Concepts LLC bought a new position in Protagonist Therapeutics in the third quarter valued at about $43,000. Finally, FNY Investment Advisers LLC purchased a new position in Protagonist Therapeutics in the fourth quarter worth about $38,000. 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.