Protagonist Therapeutics (NASDAQ:PTGX) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

A number of other research analysts have also weighed in on PTGX. TD Cowen reissued a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, July 1st. Truist Financial upped their price target on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Citigroup increased their price objective on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Barclays lifted their price objective on shares of Protagonist Therapeutics from $151.00 to $153.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.53.

Protagonist Therapeutics Trading Up 2.4%

Shares of Protagonist Therapeutics stock opened at $154.32 on Friday. The firm has a market cap of $9.99 billion, a PE ratio of 149.83 and a beta of 1.78. The stock has a 50 day moving average of $134.70 and a 200 day moving average of $110.16. Protagonist Therapeutics has a 12 month low of $54.50 and a 12 month high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.02. The business had revenue of $213.47 million for the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The company’s revenue was up 3746.8% on a year-over-year basis. As a group, equities research analysts forecast that Protagonist Therapeutics will post 4.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $148.52, for a total transaction of $5,085,176.28. Following the sale, the chief executive officer owned 523,478 shares in the company, valued at approximately $77,746,952.56. This represents a 6.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. This represents a 53.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 127,000 shares of company stock worth $17,818,139 in the last 90 days. 5.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Protagonist Therapeutics by 30.6% during the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock valued at $482,000 after purchasing an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Protagonist Therapeutics by 0.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after purchasing an additional 348 shares during the period. Millennium Management LLC lifted its stake in Protagonist Therapeutics by 283.6% in the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock worth $6,493,000 after purchasing an additional 99,269 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Protagonist Therapeutics in the second quarter worth about $987,000. Finally, Guggenheim Capital LLC boosted its position in shares of Protagonist Therapeutics by 1.6% during the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock valued at $1,062,000 after buying an additional 303 shares during the period. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.