The Goldman Sachs Group Cuts Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $38.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective reduced by The Goldman Sachs Group from $43.00 to $38.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

PTGX has been the topic of a number of other reports. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. HC Wainwright lifted their target price on shares of Protagonist Therapeutics from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, JMP Securities restated a “market outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.44.

Protagonist Therapeutics Trading Up 3.0 %

PTGX stock opened at $36.15 on Monday. The firm has a 50 day moving average of $38.09 and a 200-day moving average of $41.85. The firm has a market capitalization of $2.15 billion, a P/E ratio of 13.59 and a beta of 2.22. Protagonist Therapeutics has a 12 month low of $24.22 and a 12 month high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. The firm had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Sell-side analysts predict that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Activity

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the transaction, the chief executive officer now owns 540,260 shares in the company, valued at $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in Protagonist Therapeutics by 405,061.2% during the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock valued at $78,034,000 after buying an additional 1,733,662 shares during the period. State Street Corp boosted its stake in Protagonist Therapeutics by 52.9% during the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after acquiring an additional 1,101,218 shares in the last quarter. Deep Track Capital LP purchased a new stake in Protagonist Therapeutics in the fourth quarter worth about $38,600,000. Wellington Management Group LLP lifted its holdings in shares of Protagonist Therapeutics by 3,025.4% during the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock valued at $36,287,000 after purchasing an additional 909,998 shares during the last quarter. Finally, American Century Companies Inc. boosted 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 purchasing an additional 353,511 shares in the last quarter. 98.63% of the stock is currently 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.