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

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) has received a consensus recommendation of "Buy" from the nine analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $65.44.

A number of research analysts recently commented on PTGX shares. The Goldman Sachs Group decreased their price target on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Truist Financial raised their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. BTIG Research set a $73.00 target price on shares of Protagonist Therapeutics in a research report on Monday, March 3rd. BMO Capital Markets upped their price target on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. Finally, JMP Securities reissued a "market outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ PTGX traded down $0.25 during midday trading on Tuesday, reaching $45.66. The company's stock had a trading volume of 486,198 shares, compared to its average volume of 881,795. Protagonist Therapeutics has a fifty-two week low of $27.00 and a fifty-two week high of $60.60. The business's 50 day moving average price is $45.86 and its two-hundred day moving average price is $42.53. The company has a market cap of $2.83 billion, a P/E ratio of 17.17 and a beta of 2.65.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.50) by $0.31. The firm had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Sell-side analysts forecast that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the sale, the insider now owns 83,892 shares in the company, valued at $4,676,140.08. This trade represents a 26.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Asif Ali sold 24,903 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the transaction, the chief financial officer now owns 62,821 shares of the company's stock, valued at $3,689,477.33. This trade represents a 28.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,173 shares of company stock valued at $3,461,180. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Large investors have recently bought and sold shares of the company. Deep Track Capital LP acquired a new stake in Protagonist Therapeutics during the 4th quarter worth approximately $38,600,000. Wellington Management Group LLP lifted its holdings in shares of Protagonist Therapeutics by 3,025.4% during the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock worth $36,287,000 after purchasing an additional 909,998 shares during the period. BVF Inc. IL lifted its holdings in shares of Protagonist Therapeutics by 35.5% during the first quarter. BVF Inc. IL now owns 2,575,015 shares of the company's stock worth $124,528,000 after purchasing an additional 675,000 shares during the period. American Century Companies Inc. increased its holdings in Protagonist Therapeutics by 61.5% in the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock valued at $35,832,000 after purchasing an additional 353,511 shares during the period. Finally, New Vernon Capital Holdings II LLC increased its holdings in Protagonist Therapeutics by 11,271.9% in the first quarter. New Vernon Capital Holdings II LLC now owns 348,095 shares of the company's stock valued at $16,834,000 after purchasing an additional 345,034 shares during the period. 98.63% of the stock is currently owned by institutional investors.

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.