Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $66.10 Consensus Price Target from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) have earned an average recommendation of "Buy" from the ten analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $66.10.

PTGX has been the topic of several recent analyst reports. Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Wedbush restated an "outperform" rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Finally, Citigroup initiated coverage on Protagonist Therapeutics in a research note on Tuesday, June 17th. They set a "buy" rating and a $72.00 price objective on the stock.

Insider Transactions at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics stock in a transaction dated 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 directly owned 83,892 shares of the company's stock, valued at $4,784,360.76. This trade represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Asif Ali sold 1,756 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total value of $80,776.00. Following the sale, the chief financial officer directly owned 61,065 shares in the company, valued at $2,808,990. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Protagonist Therapeutics by 153.3% during the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after buying an additional 728 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Protagonist Therapeutics by 141.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company's stock worth $59,000 after buying an additional 710 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Protagonist Therapeutics during the 4th quarter worth $48,000. Brooklyn Investment Group acquired a new position in Protagonist Therapeutics during the 1st quarter worth $68,000. Finally, Covestor Ltd lifted its holdings in Protagonist Therapeutics by 5,200.0% during the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after buying an additional 1,612 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Price Performance

PTGX stock traded up $0.17 during trading on Wednesday, reaching $53.00. 752,675 shares of the stock traded hands, compared to its average volume of 841,483. The business's 50 day moving average price is $50.03 and its 200-day moving average price is $45.02. Protagonist Therapeutics has a 52-week low of $32.50 and a 52-week high of $60.60. The firm has a market capitalization of $3.28 billion, a PE ratio of 70.67 and a beta of 2.26.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.31. The firm had revenue of $28.32 million during the quarter, compared to the consensus estimate of $30.44 million. Protagonist Therapeutics had a return on equity of 9.22% and a net margin of 27.04%. On average, equities research analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

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.