Protagonist Therapeutics (NASDAQ:PTGX) Upgraded at BidaskClub

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BidaskClub upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a strong sell rating to a sell rating in a research report report published on Saturday morning, BidAskClub reports.

Other analysts have also issued reports about the stock. Stifel Nicolaus raised shares of Protagonist Therapeutics from a hold rating to a buy rating and increased their price target for the stock from $11.00 to $17.00 in a research report on Wednesday, May 8th. HC Wainwright set a $23.00 price target on shares of Protagonist Therapeutics and gave the stock a buy rating in a research report on Friday, August 2nd. ValuEngine lowered shares of Protagonist Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of Protagonist Therapeutics from a hold rating to a sell rating in a research report on Tuesday, August 13th. Finally, Svb Leerink reissued an outperform rating on shares of Protagonist Therapeutics in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Protagonist Therapeutics currently has an average rating of Buy and an average target price of $19.60.

NASDAQ PTGX opened at $11.04 on Friday. The company has a 50 day simple moving average of $11.64 and a 200-day simple moving average of $10.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.12 and a quick ratio of 4.12. The firm has a market capitalization of $262.54 million, a price-to-earnings ratio of -6.34 and a beta of 1.87. Protagonist Therapeutics has a 52-week low of $5.49 and a 52-week high of $14.36.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.90). The company had revenue of ($8.19) million during the quarter, compared to analysts’ expectations of $10.77 million. Protagonist Therapeutics had a negative return on equity of 62.50% and a negative net margin of 209.02%. On average, analysts predict that Protagonist Therapeutics will post -2.65 EPS for the current year.

In related news, insider David Y. Liu sold 3,395 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total transaction of $30,045.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 10,792 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total transaction of $95,509.20. The disclosure for this sale can be found here. 14.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can raised its position in Protagonist Therapeutics by 1,675.5% during the first quarter. Bank of Montreal Can now owns 11,026 shares of the company’s stock valued at $139,000 after acquiring an additional 10,405 shares in the last quarter. Algert Global LLC raised its position in Protagonist Therapeutics by 48.0% during the second quarter. Algert Global LLC now owns 15,517 shares of the company’s stock valued at $188,000 after acquiring an additional 5,030 shares in the last quarter. Marshall Wace LLP bought a new position in Protagonist Therapeutics during the second quarter valued at approximately $216,000. Price T Rowe Associates Inc. MD raised its position in Protagonist Therapeutics by 63.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 19,486 shares of the company’s stock valued at $236,000 after acquiring an additional 7,586 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Protagonist Therapeutics by 25.9% during the second quarter. Wells Fargo & Company MN now owns 20,553 shares of the company’s stock valued at $248,000 after acquiring an additional 4,224 shares in the last quarter. 61.65% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.

Recommended Story: Hold Rating

Analyst Recommendations for Protagonist Therapeutics (NASDAQ:PTGX)

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