Protagonist Therapeutics (NASDAQ:PTGX) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Protagonist Therapeutics was downgraded by Wall Street Zen from “strong-buy” to “buy”, even as the broader analyst consensus remains favorable with a Moderate Buy rating and an average target price of $115.21.
• The company reported better-than-expected quarterly results, posting $0.05 EPS versus expectations for a loss and $56.37 million in revenue versus estimates of $11.70 million.
• Insider selling has been notable, with Director Bryan Giraudo and CEO Dinesh V. Ph D. Patel both selling shares in May; insiders sold 162,880 shares total over the last 90 days.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

Several other research firms also recently weighed in on PTGX. Citizens Jmp lifted their target price on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a "market outperform" rating in a research report on Wednesday, May 6th. Leerink Partners boosted their price target on shares of Protagonist Therapeutics from $107.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, March 19th. JPMorgan Chase & Co. upped their price target on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Wolfe Research initiated coverage on shares of Protagonist Therapeutics in a research note on Thursday, May 21st. They issued an "outperform" rating and a $135.00 price objective for the company. Finally, Truist Financial lifted their price objective on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Protagonist Therapeutics has an average rating of "Moderate Buy" and an average target price of $115.21.

Protagonist Therapeutics Stock Down 0.6%

Shares of NASDAQ PTGX opened at $121.88 on Friday. Protagonist Therapeutics has a 12 month low of $49.38 and a 12 month high of $126.25. The company has a market cap of $7.84 billion, a price-to-earnings ratio of -67.34 and a beta of 1.85. The business has a fifty day simple moving average of $104.39 and a 200-day simple moving average of $95.18.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.55. The firm had revenue of $56.37 million for the quarter, compared to analysts' expectations of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. As a group, sell-side analysts expect that Protagonist Therapeutics will post 2.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bryan Giraudo sold 36,000 shares of the company's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $100.14, for a total value of $3,605,040.00. Following the transaction, the director owned 27,825 shares in the company, valued at $2,786,395.50. This represents a 56.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the completion of the sale, the chief executive officer directly owned 523,478 shares of the company's stock, valued at $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 162,880 shares of company stock worth $16,539,792. Insiders own 5.19% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors have recently modified their holdings of PTGX. Farther Finance Advisors LLC grew its holdings in shares of Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock valued at $26,000 after acquiring an additional 156 shares in the last quarter. Greenline Wealth Management LLC acquired a new stake in Protagonist Therapeutics during the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its position in Protagonist Therapeutics by 138.9% during the third quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock valued at $36,000 after purchasing an additional 314 shares during the last quarter. Osaic Holdings Inc. grew its stake in Protagonist Therapeutics by 79.5% in the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock valued at $65,000 after purchasing an additional 525 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Protagonist Therapeutics by 222.4% in the fourth quarter. Hantz Financial Services Inc. now owns 951 shares of the company's stock valued at $83,000 after purchasing an additional 656 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company's stock.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc NASDAQ: PTGX is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist's approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn's disease.

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