BidaskClub Downgrades Protagonist Therapeutics (PTGX) to Buy

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BidaskClub downgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a strong-buy rating to a buy rating in a research report released on Saturday morning, BidAskClub reports.

PTGX has been the topic of a number of other research reports. ValuEngine cut shares of Protagonist Therapeutics from a buy rating to a hold rating in a research note on Wednesday, January 2nd. Zacks Investment Research cut shares of Protagonist Therapeutics from a buy rating to a hold rating in a research note on Friday, February 22nd. Finally, BMO Capital Markets assumed coverage on shares of Protagonist Therapeutics in a research note on Friday, February 22nd. They set an outperform rating and a $17.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $15.45.

Shares of PTGX opened at $10.66 on Friday. Protagonist Therapeutics has a one year low of $5.49 and a one year high of $14.36. The company has a market cap of $259.42 million, a price-to-earnings ratio of -6.13 and a beta of 2.19.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, March 12th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.15). The company had revenue of $2.35 million for the quarter, compared to the consensus estimate of $5.45 million. Protagonist Therapeutics had a negative return on equity of 33.94% and a negative net margin of 125.87%. Equities research analysts anticipate that Protagonist Therapeutics will post -2.77 EPS for the current year.

In related news, CEO Dinesh V. Ph D. Patel sold 10,909 shares of the business’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $7.74, for a total value of $84,435.66. Following the sale, the chief executive officer now owns 367,396 shares of the company’s stock, valued at $2,843,645.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David Y. Liu sold 3,821 shares of the business’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $7.74, for a total transaction of $29,574.54. Following the completion of the sale, the insider now directly owns 37,007 shares in the company, valued at approximately $286,434.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,570 shares of company stock worth $136,815. Insiders own 13.80% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Protagonist Therapeutics by 4.9% in the fourth quarter. FMR LLC now owns 3,627,902 shares of the company’s stock worth $24,416,000 after purchasing an additional 170,500 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of Protagonist Therapeutics in the fourth quarter worth $9,190,000. Renaissance Technologies LLC grew its stake in shares of Protagonist Therapeutics by 12.3% in the third quarter. Renaissance Technologies LLC now owns 537,200 shares of the company’s stock worth $5,528,000 after purchasing an additional 58,900 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Protagonist Therapeutics by 2.6% in the third quarter. Vanguard Group Inc now owns 530,495 shares of the company’s stock worth $5,458,000 after purchasing an additional 13,341 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Protagonist Therapeutics by 2.6% in the third quarter. Vanguard Group Inc. now owns 530,495 shares of the company’s stock worth $5,458,000 after purchasing an additional 13,341 shares during the last quarter. 59.37% of the stock is currently owned by institutional investors.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing peptide-based drugs to address various unmet medical needs. The company's lead product candidates include PTG-100, an oral alpha-4-beta-7 integrin- antagonist that is in Phase II b clinical trial for the treatment of ulcerative colitis, as well as for treating chronic pouchitis, a gastrointestinal (GI) condition that occurs in post-surgical inflammatory bowel disease (IBD) patients; PTG-200, an oral interleukin-23 receptor antagonist, which is in Phase I clinical trial for the treatment of IBD; and PTG-300, an injectable hepcidin mimetic, which has completed Phase I study for use in the treatment of beta-thalassemia, as well as for treating other diseases, such as hereditary hemochromatosis, polycythemia vera, siderophilic infections, and liver fibrosis.

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