Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $137.00

Key Points

• Price target raised to $137: Citizens Jmp bumped its PTGX target from $120 to $137 (about a 34% upside), and multiple analysts have lifted targets contributing to a consensus "Moderate Buy" with an average price target of $113.69.
• Recent results and stock level: Shares traded at $101.91 (market cap $6.55B), but the company missed quarterly estimates—EPS ($0.69) vs. est. ($0.53) and revenue $7.44M vs. est. $14.92M—leaving negative margins and a negative PE.
• Insider selling noted: CEO Dinesh V. Patel sold 54,641 shares for roughly $5.52M on March 25, with insiders selling 158,215 shares (~$15.54M) in the past 90 days, while institutional ownership remains very high.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) had its price objective upped by equities researchers at Citizens Jmp from $120.00 to $137.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's price objective would indicate a potential upside of 34.43% from the company's previous close.

Several other research analysts have also recently weighed in on PTGX. HC Wainwright boosted their price target on shares of Protagonist Therapeutics from $80.00 to $117.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Jefferies Financial Group reissued a "buy" rating and set a $121.00 price target on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. Weiss Ratings cut shares of Protagonist Therapeutics from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, February 17th. The Goldman Sachs Group reissued a "neutral" rating and set a $110.00 price target on shares of Protagonist Therapeutics in a research report on Wednesday. Finally, Wedbush boosted their price target on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.69.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock traded up $2.70 on Wednesday, hitting $101.91. 182,341 shares of the stock traded hands, compared to its average volume of 767,314. The firm's 50-day moving average price is $98.82 and its two-hundred day moving average price is $89.07. The stock has a market capitalization of $6.55 billion, a PE ratio of -49.37 and a beta of 1.89. Protagonist Therapeutics has a twelve month low of $41.28 and a twelve month high of $107.84.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.16). The firm had revenue of $7.44 million for the quarter, compared to analyst estimates of $14.92 million. Protagonist Therapeutics had a negative net margin of 282.83% and a negative return on equity of 19.89%. On average, equities research analysts anticipate that Protagonist Therapeutics will post 1.02 EPS for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 54,641 shares of the company's stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $101.00, for a total value of $5,518,741.00. Following the completion of the sale, the chief executive officer directly owned 524,938 shares of the company's stock, valued at $53,018,738. This represents a 9.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lewis T. Williams sold 18,000 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $82.42, for a total value of $1,483,560.00. Following the completion of the sale, the director directly owned 7,825 shares of the company's stock, valued at approximately $644,936.50. This trade represents a 69.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 158,215 shares of company stock worth $15,539,786. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its stake 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 worth $26,000 after buying an additional 156 shares during the last quarter. Greenline Wealth Management LLC purchased a new position in Protagonist Therapeutics in the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC increased its holdings in shares of Protagonist Therapeutics by 138.9% in the 3rd 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 period. Abich Financial Wealth Management LLC acquired a new position in Protagonist Therapeutics in the third quarter worth approximately $62,000. Finally, Osaic Holdings Inc. boosted its position in Protagonist Therapeutics by 79.5% during the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock worth $65,000 after purchasing an additional 525 shares during the period. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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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