Protagonist Therapeutics (NASDAQ:PTGX) Reaches New 12-Month High After Analyst Upgrade

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s stock price reached a new 52-week high on Tuesday after Truist Financial raised their price target on the stock from $60.00 to $76.00. Truist Financial currently has a buy rating on the stock. Protagonist Therapeutics traded as high as $58.57 and last traded at $58.04, with a volume of 1288513 shares trading hands. The stock had previously closed at $55.95.

A number of other research analysts have also commented on the company. Wedbush reaffirmed an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets raised their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, JMP Securities reiterated a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Two 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.22.

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the sale, the chief executive officer now owns 540,260 shares of the company’s stock, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PTGX. Bank of Montreal Can raised its position in Protagonist Therapeutics by 4.5% in the fourth quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock worth $241,000 after acquiring an additional 270 shares during the period. Maryland State Retirement & Pension System grew its holdings in Protagonist Therapeutics by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock valued at $779,000 after purchasing an additional 278 shares during the period. Nisa Investment Advisors LLC increased its position in Protagonist Therapeutics by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after buying an additional 295 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Protagonist Therapeutics by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after buying an additional 300 shares during the period. Finally, KBC Group NV grew its stake in shares of Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after acquiring an additional 737 shares during the period. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

The company has a market capitalization of $3.56 billion, a PE ratio of 21.83 and a beta of 2.34. The company’s fifty day moving average is $38.20 and its 200-day moving average is $41.82.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The firm had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. On average, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS 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.