Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Consensus Rating of “Buy” by Brokerages

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been given an average rating of “Buy” by the six analysts that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $52.83.

Several brokerages have recently weighed in on PTGX. JPMorgan Chase & Co. upped their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. HC Wainwright boosted their price objective on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. BTIG Research boosted their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $540,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at $1,555,370.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares in the company, valued at $540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Protagonist Therapeutics

Large investors have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its holdings in shares of Protagonist Therapeutics by 179.8% in the 1st quarter. GSA Capital Partners LLP now owns 55,359 shares of the company’s stock valued at $1,602,000 after acquiring an additional 35,571 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Protagonist Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after buying an additional 39,055 shares in the last quarter. Seven Eight Capital LP boosted its holdings in Protagonist Therapeutics by 426.9% during the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock worth $1,275,000 after buying an additional 29,810 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Protagonist Therapeutics by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock worth $7,079,000 after buying an additional 17,065 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in Protagonist Therapeutics during the second quarter worth $2,112,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $45.84 on Friday. The company has a 50 day moving average price of $44.99 and a 200-day moving average price of $37.14. Protagonist Therapeutics has a fifty-two week low of $13.76 and a fifty-two week high of $48.89. The stock has a market capitalization of $2.69 billion, a PE ratio of 18.79 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The business had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million. Equities research analysts forecast that Protagonist Therapeutics will post 2.32 EPS for the current 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.