Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives Consensus Recommendation of "Buy" from Brokerages

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) has received a consensus rating of "Buy" from the nine analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $65.44.

A number of equities analysts recently weighed in on PTGX shares. Truist Financial boosted their price target 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. BMO Capital Markets upped their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. JMP Securities reaffirmed a "market outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Protagonist Therapeutics in a report on Thursday, April 10th. Finally, The Goldman Sachs Group dropped their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, February 24th.

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the transaction, the chief executive officer now directly owns 540,260 shares of the company's stock, valued at approximately $20,627,126.80. This represents a 0.98 % 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 30,514 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the transaction, the insider now directly owns 83,892 shares of the company's stock, valued at approximately $4,676,140.08. This trade represents a 26.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,532 shares of company stock valued at $3,665,786 over the last three months. 5.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Trek Financial LLC bought a new position in shares of Protagonist Therapeutics during the first quarter valued at about $2,825,000. China Universal Asset Management Co. Ltd. raised its stake in Protagonist Therapeutics by 48.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 18,772 shares of the company's stock worth $908,000 after buying an additional 6,135 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Protagonist Therapeutics by 85.7% in the first quarter. Envestnet Asset Management Inc. now owns 16,679 shares of the company's stock worth $807,000 after buying an additional 7,698 shares in the last quarter. Penserra Capital Management LLC bought a new position in Protagonist Therapeutics in the first quarter worth about $117,000. Finally, GF Fund Management CO. LTD. raised its stake in Protagonist Therapeutics by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 1,526 shares of the company's stock worth $74,000 after buying an additional 275 shares in the last quarter. 98.63% of the stock is owned by institutional investors.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX traded up $0.20 during trading on Friday, hitting $45.82. The stock had a trading volume of 860,806 shares, compared to its average volume of 860,291. Protagonist Therapeutics has a 12 month low of $24.78 and a 12 month high of $60.60. The company has a market capitalization of $2.81 billion, a PE ratio of 17.23 and a beta of 2.30. The firm has a fifty day moving average of $45.98 and a two-hundred day moving average of $42.87.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $2.07. The firm had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. On average, equities analysts expect that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

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.