Protagonist Therapeutics (NASDAQ:PTGX) Sets New 12-Month High - Here's What Happened

Key Points

• Protagonist Therapeutics (NASDAQ:PTGX) shares reached a new 52-week high, trading at $93.25 during mid-day on Saturday, compared to a previous close of $67.04.
• Multiple research firms have issued ratings on PTGX, with price targets ranging from $72.00 to $80.00, reflecting positive sentiment among analysts.
• Protagonist reported a earnings miss for the last quarter with an EPS of ($0.55), below the consensus estimate of ($0.53), alongside a revenue of $5.55 million versus a projected $8.32 million.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) shares reached a new 52-week high during mid-day trading on Saturday . The company traded as high as $93.25 and last traded at $87.00, with a volume of 7059498 shares trading hands. The stock had previously closed at $67.04.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PTGX. Barclays started coverage on Protagonist Therapeutics in a research report on Wednesday, September 17th. They issued an "overweight" rating and a $72.00 price objective for the company. Leerink Partners assumed coverage on Protagonist Therapeutics in a report on Friday, September 12th. They set an "outperform" rating and a $73.00 price target for the company. Johnson Rice set a $74.00 price target on Protagonist Therapeutics in a report on Tuesday. JMP Securities lifted their price target on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Finally, HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Protagonist Therapeutics in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.83.

Protagonist Therapeutics Trading Up 29.8%

The business has a 50-day moving average price of $60.08 and a two-hundred day moving average price of $53.05. The stock has a market capitalization of $5.41 billion, a P/E ratio of 124.29 and a beta of 2.20.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.02). The company had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. Protagonist Therapeutics had a net margin of 24.88% and a return on equity of 8.12%. On average, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $64.25, for a total transaction of $257,000.00. Following the completion of the transaction, the director owned 5,130 shares of the company's stock, valued at approximately $329,602.50. The trade was a 43.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $54.78, for a total value of $570,533.70. Following the transaction, the chief executive officer directly owned 520,603 shares of the company's stock, valued at $28,518,632.34. This trade represents a 1.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,859 shares of company stock valued at $3,944,577. Corporate insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new position in shares of Protagonist Therapeutics during the 2nd quarter worth $27,000. Bessemer Group Inc. raised its holdings in shares of Protagonist Therapeutics by 171.0% during the 2nd quarter. Bessemer Group Inc. now owns 504 shares of the company's stock worth $28,000 after buying an additional 318 shares in the last quarter. CWM LLC raised its holdings in shares of Protagonist Therapeutics by 201.5% during the 2nd quarter. CWM LLC now owns 609 shares of the company's stock worth $34,000 after buying an additional 407 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Protagonist Therapeutics by 79.5% during 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Protagonist Therapeutics by 153.3% during the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock worth $58,000 after buying an additional 728 shares in the last quarter. 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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