Protagonist Therapeutics (NASDAQ:PTGX) Given New $98.00 Price Target at Citigroup

Protagonist Therapeutics (NASDAQ:PTGX) had its target price lifted by Citigroup from $96.00 to $98.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 17.75% from the company’s current price.

PTGX has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their target price on Protagonist Therapeutics from $68.00 to $81.00 and gave the company an “overweight” rating in a report on Friday. Leerink Partners initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, September 12th. They issued an “outperform” rating and a $73.00 price objective for the company. Wedbush boosted their price objective on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Citizens Jmp upped their target price on shares of Protagonist Therapeutics from $69.00 to $102.00 and gave the stock a “market outperform” rating in a research report on Friday. Finally, Leerink Partnrs upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.23.

Protagonist Therapeutics Price Performance

NASDAQ PTGX traded up $3.69 on Monday, hitting $83.23. 1,161,388 shares of the company’s stock were exchanged, compared to its average volume of 1,007,925. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 134.24 and a beta of 2.21. The firm’s 50-day moving average price is $68.54 and its two-hundred day moving average price is $57.64. Protagonist Therapeutics has a fifty-two week low of $33.31 and a fifty-two week high of $93.25.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.03). Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. The business had revenue of $4.71 million during the quarter, compared to analyst estimates of $5.41 million. On average, research analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other Protagonist Therapeutics news, Director William D. Waddill sold 12,000 shares of the business’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $81.62, for a total value of $979,440.00. Following the completion of the transaction, the director directly owned 5,130 shares in the company, valued at approximately $418,710.60. The trade was a 70.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $1,473,440. 4.90% of the stock is owned by company insiders.

Institutional Trading of Protagonist Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new stake in Protagonist Therapeutics during the second quarter worth approximately $27,000. Bessemer Group Inc. raised its stake in shares of Protagonist Therapeutics by 171.0% in the 2nd quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock valued at $28,000 after acquiring an additional 318 shares during the period. Salomon & Ludwin LLC acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at $29,000. CWM LLC boosted its position in Protagonist Therapeutics by 201.5% during the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock worth $34,000 after purchasing an additional 407 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Protagonist Therapeutics by 138.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $36,000 after purchasing an additional 314 shares in the last quarter. Hedge funds and other 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.