Protagonist Therapeutics (NASDAQ:PTGX) Coverage Initiated by Analysts at Citigroup

Citigroup assumed coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX - Free Report) in a report published on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $72.00 target price on the stock.

Several other research analysts have also weighed in on the stock. Wall Street Zen upgraded shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. JPMorgan Chase & Co. boosted their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a report on Monday, March 3rd. Finally, BMO Capital Markets lifted their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $66.10.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX traded down $0.58 during trading hours on Tuesday, hitting $53.34. The company's stock had a trading volume of 2,280,828 shares, compared to its average volume of 904,103. Protagonist Therapeutics has a 52-week low of $30.67 and a 52-week high of $60.60. The business's 50-day moving average is $47.72 and its two-hundred day moving average is $43.71. The company has a market capitalization of $3.31 billion, a PE ratio of 71.12 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) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.31. The business had revenue of $28.32 million for the quarter, compared to analysts' expectations of $30.44 million. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. As a group, analysts predict that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were 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 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 dated Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total value of $80,776.00. Following the sale, the chief financial officer now directly owns 61,065 shares of the company's stock, valued at approximately $2,808,990. This trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.

Institutional Trading of Protagonist Therapeutics

A number of institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System raised its position in Protagonist Therapeutics by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company's stock valued at $1,112,000 after purchasing an additional 300 shares during the period. Principal Financial Group Inc. lifted its holdings in Protagonist Therapeutics by 5.3% during the 4th quarter. Principal Financial Group Inc. now owns 337,809 shares of the company's stock worth $13,039,000 after buying an additional 16,977 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Protagonist Therapeutics during the fourth quarter worth $679,000. Hussman Strategic Advisors Inc. acquired a new position in Protagonist Therapeutics in the fourth quarter worth $4,053,000. Finally, Bank of New York Mellon Corp increased its stake in Protagonist Therapeutics by 9.7% during the fourth quarter. Bank of New York Mellon Corp now owns 390,788 shares of the company's stock valued at $15,084,000 after purchasing an additional 34,455 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.

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.