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

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) have been given an average rating of "Buy" by the ten brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $66.10.

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of 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 price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Wedbush reaffirmed an "outperform" rating and set a $70.00 target price on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Wall Street Zen raised Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Finally, BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a report on Monday, March 3rd.

Insider Activity

In other news, CFO Asif Ali sold 1,756 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total transaction of $80,776.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics 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 sale, the insider now owns 83,892 shares of the company's stock, valued at $4,784,360.76. This trade represents a 10.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $48,000. GAMMA Investing LLC raised its stake in shares of 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 lifted its holdings in shares of Protagonist Therapeutics by 141.7% during 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 period. Covestor Ltd lifted its holdings in shares of Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after purchasing an additional 1,612 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Protagonist Therapeutics in the first quarter valued at approximately $68,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock traded up $0.55 during mid-day trading on Friday, hitting $55.21. The company's stock had a trading volume of 1,270,379 shares, compared to its average volume of 897,851. The company has a 50 day moving average of $47.23 and a 200-day moving average of $43.56. Protagonist Therapeutics has a one year low of $30.67 and a one year high of $60.60. The stock has a market cap of $3.42 billion, a PE ratio of 73.61 and a beta of 2.25.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted 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. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. The company had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. On average, equities research analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current fiscal 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.