Protagonist Therapeutics’ (PTGX) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report report published on Friday morning,RTT News reports. They currently have a $58.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. JMP Securities reissued a “market outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their target price on Protagonist Therapeutics from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. The Goldman Sachs Group initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued a “neutral” rating and a $47.00 price target on the stock. BMO Capital Markets started coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. Two investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Protagonist Therapeutics Trading Up 0.7 %

Protagonist Therapeutics stock opened at $38.75 on Friday. The firm has a market capitalization of $2.31 billion, a P/E ratio of 14.57 and a beta of 2.22. The business has a 50-day moving average of $38.41 and a 200-day moving average of $41.83. Protagonist Therapeutics has a 1 year low of $24.22 and a 1 year high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Research analysts anticipate that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suneel Gupta sold 103,437 shares of Protagonist Therapeutics stock in a transaction dated 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 transaction, the insider now owns 256,174 shares of the company’s stock, 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. Over the last ninety days, insiders sold 213,316 shares of company stock valued at $9,816,345. Insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds have recently made changes to their positions in PTGX. Bank of Montreal Can increased its holdings in shares of Protagonist Therapeutics by 4.5% during the 4th quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock worth $241,000 after acquiring an additional 270 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in Protagonist Therapeutics by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock worth $779,000 after purchasing an additional 278 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Protagonist Therapeutics by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock valued at $121,000 after purchasing an additional 295 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Protagonist Therapeutics by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock valued at $1,112,000 after purchasing an additional 300 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Protagonist Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after buying an additional 379 shares during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

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.