Protagonist Therapeutics (NASDAQ:PTGX) Given New $38.00 Price Target at The Goldman Sachs Group

Protagonist Therapeutics (NASDAQ:PTGX) had its price target trimmed by The Goldman Sachs Group from $43.00 to $38.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

PTGX has been the topic of several other reports. StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. HC Wainwright increased their target price on Protagonist Therapeutics from $50.00 to $54.00 and gave the company a “buy” rating in a report on Monday. Finally, Wedbush reiterated an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics has an average rating of “Moderate Buy” and an average price target of $55.44.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $36.00 on Monday. The firm’s fifty day moving average is $38.37 and its two-hundred day moving average is $41.93. The firm has a market cap of $2.15 billion, a PE ratio of 13.53 and a beta of 2.22. Protagonist Therapeutics has a one year low of $24.22 and a one year high of $48.89.

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

Insider Activity

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the sale, the chief executive officer now owns 540,260 shares in the company, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arturo Md Molina sold 26,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the transaction, the insider now directly owns 46,444 shares in the company, valued at $2,076,046.80. The trade was a 35.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in shares of Protagonist Therapeutics in the fourth quarter worth about $38,000. GF Fund Management CO. LTD. acquired a new stake in Protagonist Therapeutics in the 4th quarter worth approximately $48,000. CWM LLC lifted its holdings in Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after purchasing an additional 1,147 shares during the last quarter. Covestor Ltd boosted its position in Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after purchasing an additional 1,612 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Protagonist Therapeutics during the third quarter valued at approximately $69,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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.