Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $69.00

Key Points

• JMP Securities has raised its price target for Protagonist Therapeutics (NASDAQ:PTGX) from $67.00 to $69.00, indicating a potential upside of 29.17% based on the stock's previous close.
• Multiple firms have shown positive sentiment towards PTGX, with Citigroup maintaining an "outperform" rating and HC Wainwright issuing a price target of $80.00.
• Protagonist Therapeutics recently reported a quarterly loss of ($0.55) EPS, missing estimates, while experiencing significant insider sales totaling $4,020,877 within the last 90 days.

Protagonist Therapeutics (NASDAQ:PTGX - Free Report) had its target price lifted by JMP Securities from $67.00 to $69.00 in a research note published on Thursday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

PTGX has been the topic of several other research reports. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Finally, Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a report on Thursday. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $67.20.

Protagonist Therapeutics Stock Up 0.2%

PTGX stock traded up $0.11 during midday trading on Thursday, hitting $51.07. 719,043 shares of the company traded hands, compared to its average volume of 640,986. Protagonist Therapeutics has a twelve month low of $33.31 and a twelve month high of $60.60. The business has a 50 day simple moving average of $53.81 and a 200-day simple moving average of $47.29. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 72.96 and a beta of 2.33.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. The company had revenue of $5.55 million for the quarter, compared to analyst estimates of $8.32 million. Equities research analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $54.78, for a total value of $570,533.70. Following the sale, the chief executive officer owned 520,603 shares in the company, valued at approximately $28,518,632.34. This trade represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total transaction of $570,300.00. Following the sale, the insider owned 83,892 shares in the company, valued at $4,784,360.76. This represents a 10.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,859 shares of company stock worth $4,020,877. 4.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors have recently bought and sold shares of PTGX. JPMorgan Chase & Co. boosted its stake in Protagonist Therapeutics by 12.9% during the fourth quarter. JPMorgan Chase & Co. now owns 576,977 shares of the company's stock worth $22,271,000 after buying an additional 65,792 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Protagonist Therapeutics by 8.9% during the fourth quarter. Franklin Resources Inc. now owns 88,870 shares of the company's stock valued at $3,430,000 after acquiring an additional 7,279 shares during the period. ExodusPoint Capital Management LP bought a new stake in shares of Protagonist Therapeutics in the 4th quarter worth about $1,153,000. Wells Fargo & Company MN increased its position in shares of Protagonist Therapeutics by 32.1% during the 4th quarter. Wells Fargo & Company MN now owns 38,796 shares of the company's stock worth $1,498,000 after purchasing an additional 9,423 shares in the last quarter. Finally, Aviva PLC acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth about $565,000. Institutional investors and hedge funds own 98.63% of the company's stock.

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.