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

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) has earned a consensus recommendation of "Buy" from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One research 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 1-year target price among brokers that have issued a report on the stock in the last year is $66.10.

Several research firms have commented on PTGX. Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Citigroup began coverage on shares of Protagonist Therapeutics in a report on Tuesday, June 17th. They set a "buy" rating and a $72.00 price objective for the company. Truist Financial upped their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Finally, Wedbush reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a report on Friday, March 28th.

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Protagonist Therapeutics by 153.3% in the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after acquiring an additional 728 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Protagonist Therapeutics by 141.7% during the first quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company's stock valued at $59,000 after buying an additional 710 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at about $48,000. Brooklyn Investment Group bought a new stake in shares of Protagonist Therapeutics during the first quarter valued at about $68,000. Finally, Covestor Ltd increased its position in shares of Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company's stock valued at $63,000 after buying an additional 1,612 shares during the period. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Up 5.2%

Shares of PTGX stock traded up $2.59 during trading hours on Wednesday, reaching $52.29. 665,112 shares of the stock traded hands, compared to its average volume of 841,384. Protagonist Therapeutics has a 1-year low of $32.50 and a 1-year high of $60.60. The business has a fifty day moving average price of $49.60 and a 200 day moving average price of $44.79. The firm has a market capitalization of $3.24 billion, a PE ratio of 69.72 and a beta of 2.26.

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