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

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been given a consensus recommendation of “Buy” by the nine research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $55.89.

Several research firms have weighed in on PTGX. JMP Securities reaffirmed a “market outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 7th. JPMorgan Chase & Co. raised their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday. BMO Capital Markets initiated 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. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $54.00 price objective on shares of Protagonist Therapeutics in a research report on Monday.

Insider Activity

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds have recently made changes to their positions in PTGX. FNY Investment Advisers LLC bought a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $38,000. GF Fund Management CO. LTD. bought a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $48,000. Covestor Ltd boosted its position in shares of Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock valued at $63,000 after purchasing an additional 1,612 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Protagonist Therapeutics during the third quarter valued at approximately $69,000. Finally, KBC Group NV boosted its position in shares of Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after purchasing an additional 737 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $38.45 on Thursday. The stock’s 50-day simple moving average is $37.87 and its 200 day simple moving average is $41.76. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 14.45 and a beta of 2.34. Protagonist Therapeutics has a 52-week low of $24.22 and a 52-week high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $2.07. The business had revenue of $170.64 million for 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%. On average, research analysts forecast that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

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.