StockNews.com Downgrades Protagonist Therapeutics (NASDAQ:PTGX) to Hold

Protagonist Therapeutics (NASDAQ:PTGX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other brokerages have also issued reports on PTGX. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group assumed coverage on Protagonist Therapeutics in a research report on Friday. They issued a “neutral” rating and a $47.00 target price on the stock. Truist Financial started coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.78.

Protagonist Therapeutics Price Performance

Shares of PTGX traded up $1.10 during mid-day trading on Tuesday, hitting $41.60. 444,708 shares of the company’s stock were exchanged, compared to its average volume of 744,852. Protagonist Therapeutics has a 52 week low of $19.00 and a 52 week high of $48.89. The company has a market cap of $2.48 billion, a PE ratio of 15.64 and a beta of 2.18. The company has a 50-day simple moving average of $44.67 and a 200 day simple moving average of $40.32.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the sale, the insider now directly owns 46,444 shares in the company, valued at $2,076,046.80. This represents a 35.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suneel Gupta sold 103,437 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.04, for a total value of $4,762,239.48. Following the sale, the insider now owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. This represents a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 224,066 shares of company stock valued at $10,321,738 in the last quarter. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Protagonist Therapeutics in the second quarter valued at approximately $379,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Protagonist Therapeutics by 8.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 37,880 shares of the company’s stock worth $1,313,000 after purchasing an additional 2,985 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Protagonist Therapeutics by 9.1% in the second 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 during the last quarter. Cannon Global Investment Management LLC acquired a new stake in Protagonist Therapeutics in the second quarter valued at $2,422,000. Finally, TD Asset Management Inc raised its position in Protagonist Therapeutics by 36.7% during the 2nd quarter. TD Asset Management Inc now owns 148,302 shares of the company’s stock worth $5,139,000 after purchasing an additional 39,850 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

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.