Protagonist Therapeutics (NASDAQ:PTGX) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report published on Thursday,Benzinga reports. The firm currently has a $80.00 price objective on the stock.

Several other analysts have also recently commented on the stock. Truist Financial increased their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. BMO Capital Markets boosted their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.44.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $42.62 on Thursday. The stock has a fifty day moving average price of $44.06 and a two-hundred day moving average price of $42.75. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 16.02 and a beta of 2.30. Protagonist Therapeutics has a 52-week low of $24.22 and a 52-week high of $60.60.

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

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 24,903 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total value of $1,462,553.19. Following the completion of the sale, the chief financial officer now directly owns 62,821 shares in the company, valued at $3,689,477.33. This represents a 28.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock in a transaction dated 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 transaction, the insider now owns 83,892 shares in the company, valued at $4,676,140.08. This trade represents a 26.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,776 shares of company stock worth $3,585,010 in the last ninety days. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at about $38,000. GF Fund Management CO. LTD. bought a new position in Protagonist Therapeutics in the fourth quarter valued at $48,000. Covestor Ltd increased its stake in Protagonist Therapeutics by 5,200.0% in the 4th quarter. Covestor Ltd now owns 1,643 shares of the company’s stock valued at $63,000 after buying an additional 1,612 shares during the last quarter. KBC Group NV lifted its position in Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after buying an additional 737 shares in the last quarter. Finally, New Vernon Capital Holdings II LLC acquired a new position in shares of Protagonist Therapeutics during the 4th quarter worth about $118,000. 98.63% of the stock is owned by institutional investors.

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.