Protagonist Therapeutics (NASDAQ:PTGX) PT Raised to $45.00

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) had its price target raised by equities researchers at JMP Securities from $42.00 to $45.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price objective would indicate a potential upside of 65.99% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 28th. HC Wainwright reaffirmed a "buy" rating and issued a $38.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, February 28th. Finally, StockNews.com raised Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Protagonist Therapeutics Stock Performance

PTGX traded up $1.32 on Wednesday, hitting $27.11. 774,650 shares of the company were exchanged, compared to its average volume of 676,839. The business's fifty day moving average is $27.89 and its 200 day moving average is $23.89. Protagonist Therapeutics has a fifty-two week low of $13.72 and a fifty-two week high of $33.34. The firm has a market capitalization of $1.59 billion, a P/E ratio of -18.19 and a beta of 2.09.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.39. The business had revenue of $60.00 million during the quarter, compared to analyst estimates of $60.00 million. Analysts forecast that Protagonist Therapeutics will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Protagonist Therapeutics news, CFO Asif Ali sold 1,234 shares of the business's stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $25.11, for a total transaction of $30,985.74. Following the completion of the sale, the chief financial officer now directly owns 37,163 shares in the company, valued at $933,162.93. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director William D. Waddill sold 12,975 shares of Protagonist Therapeutics stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $31.34, for a total transaction of $406,636.50. Following the sale, the director now directly owns 12,000 shares of the company's stock, valued at $376,080. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 1,234 shares of the business's stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $25.11, for a total value of $30,985.74. Following the completion of the transaction, the chief financial officer now owns 37,163 shares in the company, valued at approximately $933,162.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,457 shares of company stock valued at $2,553,328. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its stake in shares of Protagonist Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 14,345 shares of the company's stock worth $415,000 after buying an additional 1,206 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Protagonist Therapeutics in the 1st quarter worth approximately $35,000. Sei Investments Co. raised its position in shares of Protagonist Therapeutics by 12.2% during the 1st quarter. Sei Investments Co. now owns 41,758 shares of the company's stock valued at $1,208,000 after acquiring an additional 4,529 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Protagonist Therapeutics by 179.8% during the first quarter. GSA Capital Partners LLP now owns 55,359 shares of the company's stock worth $1,602,000 after purchasing an additional 35,571 shares during the last quarter. Finally, Privium Fund Management B.V. acquired a new position in Protagonist Therapeutics in the first quarter worth $3,299,000. 98.63% of the stock is owned by institutional investors and hedge funds.

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.