Analysts Set Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Target Price at $65.44

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) has been assigned a consensus rating of "Buy" from the nine brokerages that are covering the stock, Marketbeat Ratings 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 12 month price target among brokers that have issued ratings on the stock in the last year is $65.44.

Several brokerages have weighed in on PTGX. Truist Financial lifted their price target 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. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. The Goldman Sachs Group lowered their price target 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. BTIG Research set a $73.00 target price on shares of Protagonist Therapeutics in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th.

Insider Buying and Selling

In related news, insider Arturo Md Molina sold 10,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total value of $570,300.00. Following the sale, the insider now owns 83,892 shares in the company, valued at approximately $4,784,360.76. The trade was a 10.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Asif Ali sold 1,756 shares of the business's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the sale, the chief financial officer now owns 61,065 shares in the company, valued at $2,808,990. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Protagonist Therapeutics by 153.3% during the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after acquiring an additional 728 shares during the last quarter. Smartleaf Asset Management LLC increased its position in 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 acquiring an additional 710 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Protagonist Therapeutics during the fourth quarter valued at $48,000. Brooklyn Investment Group bought a new position in Protagonist Therapeutics during the first quarter valued at $68,000. Finally, Covestor Ltd increased its position 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 acquiring an additional 1,612 shares during the last quarter. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Price Performance

Shares of PTGX traded down $1.71 on Friday, reaching $54.66. The company's stock had a trading volume of 802,396 shares, compared to its average volume of 895,860. The stock has a market capitalization of $3.39 billion, a P/E ratio of 20.55 and a beta of 2.25. The stock's 50 day simple moving average is $46.72 and its two-hundred day simple moving average is $43.41. Protagonist Therapeutics has a 12-month low of $30.67 and a 12-month high of $60.60.

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, beating the consensus estimate of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The business had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. Analysts expect that Protagonist Therapeutics will post 2.43 earnings per share for the current 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.