Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $145.00 at Truist Financial

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) had its price target raised by equities research analysts at Truist Financial from $121.00 to $145.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 10.27% from the stock's previous close.

Several other equities research analysts have also weighed in on the company. Wall Street Zen lowered Protagonist Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 27th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Barclays increased their price target on shares of Protagonist Therapeutics from $113.00 to $119.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Finally, Johnson Rice restated a "buy" rating on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $116.93.

Protagonist Therapeutics Price Performance

Protagonist Therapeutics stock opened at $131.50 on Tuesday. Protagonist Therapeutics has a 1-year low of $49.38 and a 1-year high of $132.79. The stock has a market cap of $8.46 billion, a PE ratio of -72.65 and a beta of 1.79. The stock's fifty day moving average is $107.09 and its two-hundred day moving average is $96.70.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.55. The business had revenue of $56.37 million during 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%. On average, research analysts expect that Protagonist Therapeutics will post 2.93 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 9,000 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares in the company, valued at $922,880.50. This represents a 53.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 1,750 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $105.47, for a total transaction of $184,572.50. Following the sale, the chief financial officer owned 59,003 shares of the company's stock, valued at approximately $6,223,046.41. This represents a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 162,880 shares of company stock valued at $16,539,792 over the last ninety days. 5.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in PTGX. Royal Bank of Canada grew its holdings in shares of Protagonist Therapeutics by 30.6% during the first quarter. Royal Bank of Canada now owns 9,964 shares of the company's stock worth $482,000 after buying an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Protagonist Therapeutics by 0.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company's stock worth $1,810,000 after acquiring an additional 348 shares during the period. Millennium Management LLC lifted its position in Protagonist Therapeutics by 283.6% during the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company's stock worth $6,493,000 after acquiring an additional 99,269 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Protagonist Therapeutics during the 2nd quarter worth approximately $987,000. Finally, Guggenheim Capital LLC grew its stake in shares of Protagonist Therapeutics by 1.6% in the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company's stock valued at $1,062,000 after purchasing an additional 303 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Company Profile

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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