Protagonist Therapeutics (NASDAQ:PTGX) Upgraded at The Goldman Sachs Group

Protagonist Therapeutics (NASDAQ:PTGX) was upgraded by equities research analysts at The Goldman Sachs Group to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other analysts have also commented on the stock. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. JMP Securities lowered their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $53.78.

Protagonist Therapeutics Trading Up 0.9 %

PTGX opened at $42.06 on Thursday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 15.81 and a beta of 2.18. Protagonist Therapeutics has a 12 month low of $19.00 and a 12 month high of $48.89. The stock has a fifty day moving average price of $44.76 and a 200-day moving average price of $40.13.

Insider Buying and Selling

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the sale, the insider now directly owns 46,444 shares in the company, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Suneel Gupta sold 103,437 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the completion of the sale, the insider now owns 256,174 shares in the company, valued at $11,794,250.96. The trade was a 28.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,066 shares of company stock worth $10,681,738 in the last 90 days. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PTGX. New York State Teachers Retirement System acquired a new stake in Protagonist Therapeutics during the third quarter worth about $1,107,000. Seven Eight Capital LP lifted its holdings in Protagonist Therapeutics by 426.9% in the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after acquiring an additional 29,810 shares during the period. Bank of New York Mellon Corp boosted its position in Protagonist Therapeutics by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock worth $7,079,000 after purchasing an additional 17,065 shares in the last quarter. Swedbank AB acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $2,250,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Protagonist Therapeutics during the 2nd quarter valued at approximately $2,112,000. Institutional investors and hedge funds 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.