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

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

PTGX has been the topic of several analyst reports. JMP Securities reiterated a "market outperform" rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. BMO Capital Markets raised their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research note on Monday, March 3rd. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a report on Monday. Finally, Truist Financial raised their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th.

Insider Activity at Protagonist Therapeutics

In other news, CFO Asif Ali sold 24,903 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 62,821 shares in the company, valued at $3,689,477.33. This trade represents a 28.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the sale, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. This trade represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,532 shares of company stock valued at $3,665,786. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $48,000. GAMMA Investing LLC increased its position in Protagonist Therapeutics by 153.3% in the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after purchasing an additional 728 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Protagonist Therapeutics by 141.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company's stock worth $59,000 after purchasing an additional 710 shares during the last quarter. Covestor Ltd raised its stake in 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 purchasing an additional 1,612 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in Protagonist Therapeutics during the first quarter valued at $68,000. 98.63% of the stock is owned by institutional investors.

Protagonist Therapeutics Trading Up 2.4%

Shares of NASDAQ PTGX opened at $45.57 on Tuesday. Protagonist Therapeutics has a 12-month low of $27.00 and a 12-month high of $60.60. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 17.13 and a beta of 2.65. The firm has a 50 day moving average of $46.53 and a 200 day moving average of $42.56.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share 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 net margin of 52.76% and a return on equity of 34.68%. Sell-side analysts predict that Protagonist Therapeutics will post 2.43 EPS 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.

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