Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Consensus Rating of "Buy" by Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) has been given an average rating of "Buy" by the ten analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $66.10.

Several brokerages recently weighed in on PTGX. Truist Financial boosted their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Wall Street Zen raised Protagonist Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. BMO Capital Markets boosted their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. Citigroup began coverage on Protagonist Therapeutics in a report on Tuesday, June 17th. They issued a "buy" rating and a $72.00 price objective for the company. Finally, Wedbush reissued an "outperform" rating and issued a $70.00 price objective on shares of Protagonist Therapeutics in a report on Friday, March 28th.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX opened at $49.70 on Wednesday. Protagonist Therapeutics has a one year low of $32.50 and a one year high of $60.60. The business's 50-day simple moving average is $49.60 and its 200 day simple moving average is $44.79. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 66.27 and a beta of 2.26.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.31. The business had revenue of $28.32 million for the quarter, compared to analysts' expectations 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 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other news, insider Arturo Md Molina sold 10,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 83,892 shares of the company's stock, valued at approximately $4,784,360.76. This represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Asif Ali sold 1,756 shares of the company's 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 transaction, the chief financial officer directly owned 61,065 shares of the company's stock, valued at $2,808,990. This trade represents 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Protagonist Therapeutics by 153.3% in 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 grew its holdings in Protagonist Therapeutics by 141.7% in 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 stake in Protagonist Therapeutics in the fourth quarter worth approximately $48,000. Brooklyn Investment Group bought a new position in Protagonist Therapeutics during the 1st quarter valued at $68,000. Finally, Covestor Ltd boosted its stake in Protagonist Therapeutics by 5,200.0% during the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock valued at $63,000 after purchasing an additional 1,612 shares in the last quarter. 98.63% of the stock is owned by institutional investors.

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.

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