Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock Has Consensus Price Target of $147.13 According to Analysts

Key Points

• Analyst sentiment is bullish: Eighteen brokerages give Protagonist Therapeutics a consensus “Moderate Buy” rating, with 16 buys and two holds. The average 12-month price target is $147.13.
• Recent financial results exceeded expectations: The company reported quarterly EPS of $2.29 versus the $2.27 consensus estimate and revenue of $213.47 million, up 3,746.8% year over year.
• Institutional ownership is substantial: Institutional investors own 98.63% of PTGX, with BlackRock, Johnson & Johnson, and other major investors establishing sizable positions during the second quarter.

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eighteen brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $147.13.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised Protagonist Therapeutics from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $110.00 to $186.00 in a report on Monday, August 10th. TD Cowen reiterated a "buy" rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Citigroup lifted their price objective on Protagonist Therapeutics from $175.00 to $182.00 and gave the company a "buy" rating in a report on Monday, August 31st. Wedbush upped their target price on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Finally, Zacks Research downgraded shares of Protagonist Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th.

Protagonist Therapeutics Price Performance

PTGX opened at $139.19 on Friday. Protagonist Therapeutics has a fifty-two week low of $62.24 and a fifty-two week high of $160.81. The firm's fifty day moving average price is $145.09 and its two-hundred day moving average price is $122.07. The company has a market capitalization of $9.01 billion, a P/E ratio of 135.14 and a beta of 1.53.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The company had revenue of $213.47 million during the quarter, compared to analysts' expectations of $212.03 million. The business's quarterly revenue was up 3746.8% on a year-over-year basis. On average, equities research analysts expect that Protagonist Therapeutics will post 4.22 EPS for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinsesh Patel sold 65,761 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the sale, the chief executive officer directly owned 523,478 shares in the company, valued at $78,055,804.58. This represents a 11.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 225,000 shares of company stock valued at $33,131,367. 5.19% of the stock is owned by insiders.

Institutional Trading of Protagonist Therapeutics

Several large investors have recently made changes to their positions in PTGX. BlackRock Inc. bought a new position in shares of Protagonist Therapeutics in the second quarter worth about $1,263,535,000. Johnson & Johnson bought a new position in Protagonist Therapeutics in the 2nd quarter worth approximately $300,220,852. Jupiter Topco LLC acquired a new position in Protagonist Therapeutics during the 2nd quarter worth $261,039,000. Bank of America Corp DE bought a new position in Protagonist Therapeutics in the 2nd quarter valued at $162,357,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at $117,783,000. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc NASDAQ: PTGX is a clinical-stage biopharmaceutical company focused on developing peptide-based medicines for chronic immune-mediated and hematologic diseases. The company uses its proprietary technology platform to design peptides intended to selectively interact with disease-relevant biological targets.

Protagonist's pipeline includes icotrokinra, formerly known as JNJ-2113, an investigational oral peptide that selectively targets the interleukin-23 receptor.

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