Protagonist Therapeutics (NASDAQ:PTGX) Receives "Buy" Rating from HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $80.00 price objective on the stock. HC Wainwright's price target points to a potential upside of 79.82% from the company's current price.

Several other brokerages have also recently issued reports on PTGX. Wedbush restated an "outperform" rating and issued a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, March 28th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a report on Monday, March 3rd. BMO Capital Markets lifted their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. The Goldman Sachs Group cut their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $65.44.

Protagonist Therapeutics Trading Up 0.2%

NASDAQ:PTGX opened at $44.49 on Monday. Protagonist Therapeutics has a twelve month low of $27.00 and a twelve month high of $60.60. The company has a market cap of $2.76 billion, a PE ratio of 16.73 and a beta of 2.65. The company's 50 day moving average is $46.77 and its two-hundred day moving average is $42.57.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The firm had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. As a group, analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, CFO Asif Ali sold 24,903 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total value of $1,462,553.19. Following the completion of the transaction, the chief financial officer now owns 62,821 shares of the company's stock, valued at approximately $3,689,477.33. This represents a 28.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Arturo Md Molina sold 30,514 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the transaction, the insider now owns 83,892 shares in the company, valued at $4,676,140.08. This represents a 26.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,532 shares of company stock worth $3,665,786 in the last three months. Company insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors have recently added to or reduced their stakes in PTGX. GF Fund Management CO. LTD. purchased a new position in Protagonist Therapeutics during the fourth quarter valued at $48,000. GAMMA Investing LLC lifted its stake in Protagonist Therapeutics by 153.3% in the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after buying an additional 728 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Protagonist Therapeutics by 141.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company's stock valued at $59,000 after buying an additional 710 shares in the last quarter. Covestor Ltd boosted 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 buying an additional 1,612 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Protagonist Therapeutics during the 1st quarter worth approximately $68,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Protagonist Therapeutics Company Profile

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.

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