Protagonist Therapeutics (NASDAQ:PTGX) Price Target Lowered to $38.00 at The Goldman Sachs Group

Protagonist Therapeutics (NASDAQ:PTGX) had its target price reduced by research analysts at The Goldman Sachs Group from $43.00 to $38.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 1.23% from the company’s current price.

Several other analysts also recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. HC Wainwright raised their price objective on shares of Protagonist Therapeutics from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday. Finally, BMO Capital Markets began coverage on Protagonist Therapeutics in a report on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.44.

Protagonist Therapeutics Stock Down 3.1 %

PTGX stock traded down $1.21 during midday trading on Monday, reaching $37.54. The company’s stock had a trading volume of 408,537 shares, compared to its average volume of 549,259. The business’s 50-day simple moving average is $38.37 and its 200-day simple moving average is $41.93. The stock has a market cap of $2.24 billion, a PE ratio of 14.14 and a beta of 2.22. Protagonist Therapeutics has a 52 week low of $24.22 and a 52 week high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. The firm had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, equities analysts forecast that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the sale, the chief executive officer now owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the transaction, the insider now owns 46,444 shares in the company, valued at approximately $2,076,046.80. The trade was a 35.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in shares of Protagonist Therapeutics during the 4th quarter worth about $38,000. GF Fund Management CO. LTD. bought a new position in Protagonist Therapeutics during the fourth quarter worth about $48,000. CWM LLC increased its position in Protagonist Therapeutics by 910.3% during the third quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after buying an additional 1,147 shares during the last quarter. Covestor Ltd boosted its stake in shares of Protagonist Therapeutics by 5,200.0% during the 4th quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after acquiring an additional 1,612 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $69,000. Institutional investors and hedge funds 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.