Protagonist Therapeutics (NASDAQ:PTGX) Coverage Initiated at Barclays

Barclays began coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report issued on Wednesday morning, Marketbeat.com reports. The firm issued an overweight rating and a $72.00 target price on the stock.

Other equities analysts have also issued reports about the stock. JMP Securities lifted their price objective on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Wall Street Zen upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, June 8th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Leerink Partnrs raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. Finally, Leerink Partners initiated coverage on Protagonist Therapeutics in a research note on Friday, September 12th. They issued an “outperform” rating and a $73.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $68.08.

Protagonist Therapeutics Trading Up 0.1%

NASDAQ:PTGX opened at $62.20 on Wednesday. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 88.86 and a beta of 2.22. Protagonist Therapeutics has a twelve month low of $33.31 and a twelve month high of $63.30. The stock has a fifty day simple moving average of $56.56 and a 200-day simple moving average of $51.45.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). The company had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. As a group, equities research analysts predict that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Activity

In related news, Director William D. Waddill sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $59.25, for a total transaction of $237,000.00. Following the completion of the transaction, the director owned 9,130 shares of the company’s stock, valued at approximately $540,952.50. The trade was a 30.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $54.78, for a total value of $570,533.70. Following the completion of the sale, the chief executive officer directly owned 520,603 shares of the company’s stock, valued at $28,518,632.34. This represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,859 shares of company stock valued at $3,687,577. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in Protagonist Therapeutics in the second quarter valued at about $27,000. Bessemer Group Inc. raised its holdings in shares of Protagonist Therapeutics by 171.0% in the 2nd quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock worth $28,000 after buying an additional 318 shares in the last quarter. CWM LLC lifted its position in shares of Protagonist Therapeutics by 201.5% during the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock worth $34,000 after buying an additional 407 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Protagonist Therapeutics in the 4th quarter valued at $48,000. Finally, GAMMA Investing LLC grew its position in Protagonist Therapeutics by 153.3% in the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company’s stock valued at $58,000 after acquiring an additional 728 shares during the period. 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.