Protagonist Therapeutics' (PTGX) Buy Rating Reiterated at HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $80.00 price target on the stock. HC Wainwright's price objective would suggest a potential upside of 75.21% from the company's previous close.

Several other research firms have also recently issued reports on PTGX. JPMorgan Chase & Co. increased their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Wedbush reiterated an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th. JMP Securities reiterated a "market outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. BMO Capital Markets increased their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Finally, Truist Financial increased their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $65.44.

Protagonist Therapeutics Trading Down 0.5%

Shares of PTGX stock traded down $0.25 during trading on Monday, reaching $45.66. 486,198 shares of the company's stock traded hands, compared to its average volume of 879,690. The company has a market capitalization of $2.83 billion, a P/E ratio of 17.17 and a beta of 2.65. The firm's 50-day moving average is $45.86 and its 200 day moving average is $42.60. Protagonist Therapeutics has a 1 year low of $27.00 and a 1 year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The business had revenue of $28.32 million for the quarter, compared to analysts' expectations of $30.44 million. As a group, sell-side analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, CFO Asif Ali sold 24,903 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the transaction, the chief financial officer now owns 62,821 shares of the company's stock, valued at approximately $3,689,477.33. This trade represents a 28.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Arturo Md Molina sold 30,514 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the transaction, the insider now directly owns 83,892 shares in the company, valued at approximately $4,676,140.08. This represents a 26.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,173 shares of company stock valued at $3,461,180. Insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of large investors have recently added to or reduced their stakes in PTGX. GF Fund Management CO. LTD. bought a new stake in Protagonist Therapeutics in the 4th quarter worth $48,000. GAMMA Investing LLC grew its holdings in Protagonist Therapeutics by 153.3% in the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after acquiring an additional 728 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Protagonist Therapeutics by 141.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company's stock worth $59,000 after acquiring an additional 710 shares during the last quarter. Covestor Ltd grew its holdings in Protagonist Therapeutics by 5,200.0% in the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after acquiring an additional 1,612 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in Protagonist Therapeutics in the 1st quarter worth $68,000. 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.