Wedbush Reiterates Outperform Rating for Protagonist Therapeutics (NASDAQ:PTGX)

Wedbush reaffirmed their outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report released on Friday morning,RTT News reports. Wedbush currently has a $58.00 target price on the stock.

Several other equities analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. BMO Capital Markets started coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Finally, The Goldman Sachs Group initiated coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $38.75 on Friday. Protagonist Therapeutics has a 52 week low of $24.22 and a 52 week high of $48.89. The company has a market capitalization of $2.31 billion, a PE ratio of 14.57 and a beta of 2.22. The company’s 50-day simple moving average is $38.41 and its 200 day simple moving average is $41.83.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. On average, analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Suneel Gupta sold 103,437 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the transaction, the insider now owns 256,174 shares in the company, valued at approximately $11,794,250.96. This represents a 28.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were 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 directly owns 435,208 shares in the company, valued at approximately $20,437,367.68. The trade was a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 213,316 shares of company stock valued at $9,816,345 in the last 90 days. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors have recently modified their holdings of PTGX. Bank of Montreal Can lifted its holdings in Protagonist Therapeutics by 4.5% during 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 increased its position in shares of Protagonist Therapeutics by 1.4% during the 4th 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 last quarter. Nisa Investment Advisors LLC raised its stake in shares of Protagonist Therapeutics by 10.4% during 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. Louisiana State Employees Retirement System raised its stake in shares of Protagonist Therapeutics by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after purchasing an additional 300 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Protagonist Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after buying an additional 379 shares during the last quarter. 98.63% of the stock is owned by institutional investors.

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.