Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $62.56 Average PT from Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $62.56.

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets raised their price target on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. upped their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research note on Monday, March 3rd. Finally, Wedbush reissued an “outperform” rating and set a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th.

Insider Activity at Protagonist Therapeutics

In related news, CFO Asif Ali sold 24,903 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the completion of the sale, the chief financial officer now owns 62,821 shares in the company, valued at $3,689,477.33. The trade was a 28.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the transaction, the chief executive officer now owns 540,260 shares in the company, valued at $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,776 shares of company stock valued at $3,585,010 over the last quarter. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of PTGX. Bank of Montreal Can boosted its stake in Protagonist Therapeutics by 4.5% in the fourth quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock valued at $241,000 after acquiring an additional 270 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Protagonist Therapeutics by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock valued at $779,000 after purchasing an additional 278 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Protagonist Therapeutics by 10.4% in the 4th 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 period. Louisiana State Employees Retirement System grew its stake in Protagonist Therapeutics by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after buying an additional 300 shares during the last quarter. Finally, KBC Group NV increased its position in Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after buying an additional 737 shares during the period. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Stock Down 4.4 %

PTGX opened at $44.44 on Monday. The firm has a market cap of $2.73 billion, a P/E ratio of 16.71 and a beta of 2.30. Protagonist Therapeutics has a 52 week low of $24.22 and a 52 week high of $60.60. The business has a fifty day simple moving average of $43.48 and a 200-day simple moving average of $42.94.

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 company 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%. Sell-side analysts expect that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

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.