Brokerages Set Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Target Price at $55.89

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned an average rating of “Buy” from the nine research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $61.22.

Several analysts have recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. BMO Capital Markets upped their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday. Wedbush restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Finally, StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds have recently bought and sold shares of PTGX. Pacer Advisors Inc. lifted its stake in Protagonist Therapeutics by 405,061.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after acquiring an additional 1,733,662 shares in the last quarter. State Street Corp lifted its stake in Protagonist Therapeutics by 52.9% in the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after acquiring an additional 1,101,218 shares in the last quarter. Deep Track Capital LP purchased a new stake in Protagonist Therapeutics in the 4th quarter worth about $38,600,000. Wellington Management Group LLP raised its stake in shares of Protagonist Therapeutics by 3,025.4% during the 4th quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock worth $36,287,000 after purchasing an additional 909,998 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Protagonist Therapeutics by 61.5% during the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock worth $35,832,000 after purchasing an additional 353,511 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock opened at $57.65 on Thursday. Protagonist Therapeutics has a 1 year low of $24.22 and a 1 year high of $60.60. The stock has a fifty day moving average of $39.00 and a two-hundred day moving average of $42.06. The firm has a market capitalization of $3.54 billion, a PE ratio of 21.67 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The company had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. Equities research analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal 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.