Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock Has Average Target Price of $147.13

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been assigned an average recommendation of “Moderate Buy” from the eighteen research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $147.13.

Several research analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Protagonist Therapeutics from $178.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 1st. UBS Group upgraded shares of Protagonist Therapeutics to a “buy” rating in a research report on Monday, August 10th. TD Cowen reiterated a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Citigroup upped their price target on shares of Protagonist Therapeutics from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Finally, Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th.

Protagonist Therapeutics Trading Down 0.7%

Protagonist Therapeutics stock opened at $139.91 on Friday. Protagonist Therapeutics has a 12 month low of $65.56 and a 12 month high of $160.81. The business’s 50 day simple moving average is $145.50 and its 200 day simple moving average is $123.53. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 135.84 and a beta of 1.53.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results 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 during 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 firm’s quarterly revenue was up 3746.8% compared to the same quarter last year. 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 Dinsesh Patel sold 65,761 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the sale, the chief executive officer directly owned 523,478 shares in the company, valued at approximately $78,055,804.58. The trade was a 11.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of the stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total value of $8,312,419.62. Following the sale, the chief financial officer directly owned 59,003 shares in the company, valued at $8,365,445.34. This trade represents a 49.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 283,629 shares of company stock valued at $41,443,786. 5.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Keating Financial Advisory Services Inc. purchased a new position in shares of Protagonist Therapeutics during the 2nd quarter valued at $30,000. Allworth Financial LP purchased a new stake in shares of Protagonist Therapeutics in the second quarter worth $31,000. Quantbot Technologies LP purchased a new stake in shares of Protagonist Therapeutics in the second quarter worth $42,000. Harbor Investment Advisory LLC bought a new stake in Protagonist Therapeutics during the second quarter valued at $89,000. Finally, EverSource Wealth Advisors LLC grew its position in Protagonist Therapeutics by 63.0% during the first quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock worth $96,000 after buying an additional 352 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ:PTGX) is a clinical-stage biopharmaceutical company focused on developing peptide-based medicines for chronic immune-mediated and hematologic diseases. The company uses its proprietary technology platform to design peptides intended to selectively interact with disease-relevant biological targets.

Protagonist’s pipeline includes icotrokinra, formerly known as JNJ-2113, an investigational oral peptide that selectively targets the interleukin-23 receptor.