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

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

A number of other equities analysts have also recently commented on PTGX. The Goldman Sachs Group began coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They issued a “neutral” rating and a $47.00 target price on the stock. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price target on Protagonist Therapeutics from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Protagonist Therapeutics Stock Performance

PTGX opened at $38.75 on Friday. Protagonist Therapeutics has a one year low of $24.22 and a one year high of $48.89. The stock has a market capitalization of $2.31 billion, a P/E ratio of 14.57 and a beta of 2.22. The business’s 50-day simple moving average is $38.37 and its 200-day simple moving average is $41.89.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The firm had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. On average, equities research analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other news, 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 transaction of $1,162,200.00. Following the transaction, the insider now directly owns 46,444 shares of the company’s stock, valued at $2,076,046.80. This represents a 35.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction dated 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 of the company’s stock, valued at $20,627,126.80. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of Protagonist Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in shares of Protagonist Therapeutics by 127.2% during the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after acquiring an additional 45,674 shares during the period. New York State Teachers Retirement System purchased a new position in Protagonist Therapeutics in the 3rd quarter valued at approximately $1,107,000. Swedbank AB acquired a new position in Protagonist Therapeutics during the third quarter worth $2,250,000. Charles Schwab Investment Management Inc. boosted its position in Protagonist Therapeutics by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock worth $25,448,000 after purchasing an additional 39,850 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock worth $14,437,000 after purchasing an additional 310,804 shares in the last quarter. Hedge funds and other 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.