Truist Financial Increases Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $76.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price target lifted by analysts at Truist Financial from $60.00 to $76.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 31.83% from the company’s current price.

PTGX has been the topic of several other reports. JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Wedbush reissued an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 21st. The Goldman Sachs Group dropped their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, March 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Two investment 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. According to data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $61.22.

Protagonist Therapeutics Trading Down 3.5 %

PTGX stock opened at $57.65 on Tuesday. Protagonist Therapeutics has a twelve month low of $24.22 and a twelve month high of $60.60. The company’s 50 day moving average is $39.00 and its two-hundred day moving average is $42.06. The stock has a market cap of $3.54 billion, a P/E ratio of 21.67 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its 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 business had revenue of $170.64 million for the quarter, compared to analysts’ expectations of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. On average, equities research analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

Insider Buying and Selling

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 value of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in PTGX. Franklin Resources Inc. lifted its holdings in Protagonist Therapeutics by 127.2% in the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after purchasing an additional 45,674 shares in the last quarter. Swedbank AB purchased a new position in Protagonist Therapeutics in the 3rd quarter valued at about $2,250,000. Charles Schwab Investment Management Inc. lifted its holdings in Protagonist Therapeutics by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock valued at $25,448,000 after purchasing an additional 39,850 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Protagonist Therapeutics by 3,099.4% in the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after purchasing an additional 310,804 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Protagonist Therapeutics in the 3rd quarter valued at about $861,000. 98.63% of the stock is currently owned by hedge funds and other 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.