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

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been given an average rating of “Buy” by the nine research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $65.44.

Several analysts recently weighed in on the company. The Goldman Sachs Group decreased their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. JMP Securities reissued a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Truist Financial boosted their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a report on Monday, March 3rd. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Protagonist Therapeutics in a report on Thursday, April 10th.

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Asif Ali sold 1,756 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the sale, the chief financial officer now owns 61,065 shares of the company’s stock, valued at $2,808,990. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,532 shares of company stock valued at $3,665,786 over the last quarter. Corporate 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 in the 4th quarter worth approximately $38,000. GF Fund Management CO. LTD. acquired a new position in Protagonist Therapeutics in the fourth quarter worth $48,000. GAMMA Investing LLC boosted its stake in Protagonist Therapeutics by 153.3% in the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company’s stock worth $58,000 after purchasing an additional 728 shares in the last quarter. Covestor Ltd grew its holdings 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 worth $63,000 after purchasing an additional 1,612 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Protagonist Therapeutics by 54.4% in the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after buying an additional 737 shares in the last quarter. 98.63% of the stock is owned by institutional investors.

Protagonist Therapeutics Stock Down 2.8 %

Shares of PTGX stock opened at $44.85 on Friday. Protagonist Therapeutics has a 12 month low of $24.22 and a 12 month high of $60.60. The company has a market cap of $2.75 billion, a PE ratio of 16.86 and a beta of 2.30. The business’s 50 day moving average is $45.45 and its two-hundred day moving average is $42.85.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping 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. As a group, equities analysts expect that Protagonist Therapeutics 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.