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

Key Points

• Protagonist Therapeutics, Inc. has received a consensus rating of "Buy" from analysts, with an average one-year price target of $67.20.
• CEO Dinesh V. Patel sold 10,415 shares at an average price of $54.78, representing a 1.96% decrease in his ownership of the stock.
• Institutional investors hold a significant stake of 98.63% in Protagonist Therapeutics, with several firms increasing their positions in the recent quarter.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) has been assigned a consensus rating of "Buy" from the nine brokerages that are presently 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 issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $67.20.

A number of research firms have recently commented on PTGX. JMP Securities lifted their target price on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Citigroup restated an "outperform" rating on shares of Protagonist Therapeutics in a report on Thursday, August 7th. Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd.

Insider Buying and Selling

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $54.78, for a total value of $570,533.70. Following the completion of the sale, the chief executive officer directly owned 520,603 shares of the company's stock, valued at $28,518,632.34. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the sale, the insider owned 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 disclosure for this sale can be found here. Insiders sold a total of 72,859 shares of company stock worth $4,020,877 in the last ninety days. 4.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in Protagonist Therapeutics in the 2nd quarter valued at about $27,000. Bessemer Group Inc. boosted its position in Protagonist Therapeutics by 171.0% during the second quarter. Bessemer Group Inc. now owns 504 shares of the company's stock worth $28,000 after purchasing an additional 318 shares during the period. CWM LLC boosted its position in Protagonist Therapeutics by 201.5% during the second quarter. CWM LLC now owns 609 shares of the company's stock worth $34,000 after purchasing an additional 407 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Protagonist Therapeutics in the fourth quarter worth about $48,000. Finally, GAMMA Investing LLC increased 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 in the last quarter. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Up 7.8%

PTGX stock opened at $61.43 on Thursday. The firm has a market cap of $3.82 billion, a PE ratio of 87.76 and a beta of 2.33. The business has a 50 day moving average of $54.38 and a 200-day moving average of $48.94. Protagonist Therapeutics has a 12-month low of $33.31 and a 12-month high of $61.50.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%.The business had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. On average, research analysts expect that Protagonist Therapeutics will post 2.43 earnings per share 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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