Protagonist Therapeutics (NASDAQ:PTGX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Protagonist Therapeutics (NASDAQ:PTGX) from a hold rating to a sell rating in a report published on Saturday.

PTGX has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a research report on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research report on Monday, May 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Finally, The Goldman Sachs Group dropped their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.44.

Protagonist Therapeutics Trading Up 5.6%

NASDAQ:PTGX opened at $50.15 on Friday. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 18.85 and a beta of 2.65. Protagonist Therapeutics has a 1-year low of $28.36 and a 1-year high of $60.60. The business’s fifty day moving average price is $45.26 and its 200 day moving average price is $42.69.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.31. The firm had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Equities analysts forecast that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 4,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the sale, the director now owns 13,130 shares in the company, valued at $712,302.50. This represents a 23.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Arturo Md Molina sold 30,514 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the sale, the insider now owns 83,892 shares of the company’s stock, valued at approximately $4,676,140.08. The trade was a 26.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,173 shares of company stock worth $3,461,180. 4.90% of the stock is owned by corporate insiders.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds have recently modified their holdings of PTGX. Deep Track Capital LP bought a new stake in shares of Protagonist Therapeutics in the 4th quarter worth approximately $38,600,000. Wellington Management Group LLP lifted its position in shares of Protagonist Therapeutics by 3,025.4% in the 4th quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock worth $36,287,000 after acquiring an additional 909,998 shares during the period. BVF Inc. IL lifted its position in shares of Protagonist Therapeutics by 35.5% in the 1st quarter. BVF Inc. IL now owns 2,575,015 shares of the company’s stock worth $124,528,000 after acquiring an additional 675,000 shares during the period. American Century Companies Inc. lifted its position in shares of Protagonist Therapeutics by 61.5% in the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock worth $35,832,000 after acquiring an additional 353,511 shares during the period. Finally, New Vernon Capital Holdings II LLC lifted its position in shares of Protagonist Therapeutics by 11,271.9% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 348,095 shares of the company’s stock worth $16,834,000 after acquiring an additional 345,034 shares during the period. Institutional investors own 98.63% of the company’s stock.

About Protagonist Therapeutics

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.