Citizens Jmp Forecasts Strong Price Appreciation for Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective hoisted by analysts at Citizens Jmp from $69.00 to $102.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective points to a potential upside of 28.24% from the company’s previous close.

Several other analysts have also recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. Leerink Partners assumed coverage on shares of Protagonist Therapeutics in a report on Friday, September 12th. They set an “outperform” rating and a $73.00 target price on the stock. JMP Securities upped their price target on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Wedbush raised their price target on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Protagonist Therapeutics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.08.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $79.54 on Friday. The firm’s fifty day moving average price is $68.54 and its two-hundred day moving average price is $57.56. The stock has a market cap of $4.95 billion, a PE ratio of 128.29 and a beta of 2.22. Protagonist Therapeutics has a fifty-two week low of $33.31 and a fifty-two week high of $93.25.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.03). The firm had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.78%. As a group, sell-side analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 12,000 shares of the company’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $81.62, for a total transaction of $979,440.00. Following the sale, the director owned 5,130 shares of the company’s stock, valued at approximately $418,710.60. This represents a 70.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,000 shares of company stock worth $1,473,440 over the last quarter. Corporate insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in PTGX. Salomon & Ludwin LLC acquired a new stake in Protagonist Therapeutics during the third quarter worth approximately $29,000. FNY Investment Advisers LLC bought a new position in shares of Protagonist Therapeutics during the 2nd quarter worth approximately $27,000. Bessemer Group Inc. grew its position in shares of Protagonist Therapeutics by 171.0% during the 2nd quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock worth $28,000 after buying an additional 318 shares during the period. CWM LLC increased its stake in shares of Protagonist Therapeutics by 201.5% in the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after acquiring an additional 407 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at $62,000. Institutional investors own 98.63% of the company’s stock.

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.