Protagonist Therapeutics (NASDAQ:PTGX) Now Covered by Citigroup

Research analysts at Citigroup began coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) in a note issued to investors on Tuesday,Benzinga reports. The firm set a "buy" rating and a $72.00 price target on the stock. Citigroup's price target indicates a potential upside of 31.72% from the company's previous close.

Other equities analysts have also issued reports about the stock. BMO Capital Markets boosted their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Wedbush reiterated an "outperform" rating and set a $70.00 price target on shares of Protagonist Therapeutics in a report on Friday, March 28th. The Goldman Sachs Group reduced their price objective 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $66.10.

Protagonist Therapeutics Price Performance

PTGX stock opened at $54.66 on Tuesday. Protagonist Therapeutics has a 1 year low of $30.67 and a 1 year high of $60.60. The firm has a market capitalization of $3.39 billion, a PE ratio of 20.55 and a beta of 2.25. The business has a 50 day simple moving average of $46.98 and a 200-day simple moving average of $43.48.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.31. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The company had revenue of $28.32 million during the quarter, compared to analysts' expectations of $30.44 million. On average, equities research analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Transactions at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 10,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total transaction of $570,300.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Asif Ali sold 1,756 shares of Protagonist Therapeutics stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total value of $80,776.00. Following the transaction, the chief financial officer now directly owns 61,065 shares of the company's stock, valued at approximately $2,808,990. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of large investors have recently modified their holdings of PTGX. Inspire Investing LLC boosted its holdings in shares of Protagonist Therapeutics by 106.9% in the 1st quarter. Inspire Investing LLC now owns 21,834 shares of the company's stock valued at $1,056,000 after buying an additional 11,279 shares during the period. Strs Ohio acquired a new position in Protagonist Therapeutics during the 1st quarter worth $919,000. Focus Partners Wealth increased its position in shares of Protagonist Therapeutics by 2.2% during the 1st quarter. Focus Partners Wealth now owns 435,097 shares of the company's stock valued at $21,041,000 after purchasing an additional 9,540 shares during the period. Woodline Partners LP increased its holdings in shares of Protagonist Therapeutics by 54.2% in the 1st quarter. Woodline Partners LP now owns 897,699 shares of the company's stock valued at $43,413,000 after purchasing an additional 315,372 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Protagonist Therapeutics in the first quarter valued at approximately $4,958,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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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