Fisher Asset Management LLC Makes New Investment in Protagonist Therapeutics, Inc. $PTGX

Key Points

• Fisher Asset Management opened a new position in Protagonist Therapeutics, buying 65,114 shares valued at about $5.7 million in the fourth quarter.
• Protagonist reported strong quarterly results, posting $0.05 EPS versus expectations for a loss and generating $56.37 million in revenue, well above estimates.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and an average price target of $115.21, even as several insiders recently sold shares.

Fisher Asset Management LLC purchased a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 65,114 shares of the company's stock, valued at approximately $5,687,000. Fisher Asset Management LLC owned about 0.10% of Protagonist Therapeutics as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Protagonist Therapeutics by 30.6% in the first quarter. Royal Bank of Canada now owns 9,964 shares of the company's stock worth $482,000 after buying an additional 2,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Protagonist Therapeutics by 0.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company's stock worth $1,810,000 after buying an additional 348 shares during the period. Millennium Management LLC increased its holdings in shares of Protagonist Therapeutics by 283.6% in the first quarter. Millennium Management LLC now owns 134,269 shares of the company's stock worth $6,493,000 after buying an additional 99,269 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Protagonist Therapeutics in the second quarter worth about $987,000. Finally, Guggenheim Capital LLC increased its holdings in shares of Protagonist Therapeutics by 1.6% in the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company's stock worth $1,062,000 after buying an additional 303 shares during the period. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX opened at $100.41 on Friday. Protagonist Therapeutics, Inc. has a 1 year low of $45.43 and a 1 year high of $107.84. The company has a market cap of $6.46 billion, a PE ratio of -55.48 and a beta of 1.89. The stock's 50-day moving average is $101.68 and its 200 day moving average is $92.00.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.55. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The company had revenue of $56.37 million for the quarter, compared to the consensus estimate of $11.70 million. Analysts expect that Protagonist Therapeutics, Inc. will post 3.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Leerink Partners lifted their price objective on Protagonist Therapeutics from $107.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, March 19th. TD Cowen lifted their price objective on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $110.00 price objective on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Finally, Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $115.21.

Insider Activity at Protagonist Therapeutics

In related news, Director Bryan Giraudo sold 36,000 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the transaction, the director owned 27,825 shares in the company, valued at $2,786,395.50. The trade was a 56.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the transaction, the chief executive officer owned 523,478 shares in the company, valued at approximately $52,410,617.36. This represents a 12.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 254,345 shares of company stock worth $25,810,506 over the last 90 days. 5.19% of the stock is owned by insiders.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc NASDAQ: PTGX is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist's approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn's disease.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.