Protagonist Therapeutics (NASDAQ:PTGX) Reaches New 1-Year High - Here's Why

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $151.88 and last traded at $148.29, with a volume of 306256 shares traded. The stock had previously closed at $150.00.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group raised shares of Protagonist Therapeutics from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $110.00 to $186.00 in a research report on Monday. Citizens Jmp upped their target price on Protagonist Therapeutics from $120.00 to $137.00 and gave the company a "market outperform" rating in a report on Wednesday, May 6th. Wall Street Zen downgraded Protagonist Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Wolfe Research assumed coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They set an "outperform" rating and a $135.00 price target on the stock. Finally, Wedbush lifted their price target on Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an "outperform" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Protagonist Therapeutics Trading Down 1.1%

The business's fifty day moving average is $126.51 and its 200 day moving average is $106.30. The company has a market cap of $9.54 billion, a P/E ratio of 143.97 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.02. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The business had revenue of $213.47 million during the quarter, compared to analyst estimates of $212.03 million. The firm's revenue for the quarter was up 3746.8% on a year-over-year basis. As a group, research analysts expect that Protagonist Therapeutics, Inc. will post 3.51 EPS for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other news, Director William D. Waddill sold 9,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the transaction, the director owned 7,825 shares in the company, valued at approximately $922,880.50. This represents a 53.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 27,000 shares of company stock worth $2,927,340. 5.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTGX. Farther Finance Advisors LLC boosted its position in Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock worth $26,000 after purchasing an additional 156 shares during the period. Greenline Wealth Management LLC bought a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $27,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at approximately $30,000. Allworth Financial LP purchased a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at approximately $31,000. Finally, Osaic Holdings Inc. boosted its holdings in Protagonist Therapeutics by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock worth $65,000 after buying an additional 525 shares during the period. 98.63% of the stock is currently owned by 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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