Protagonist Therapeutics (NASDAQ:PTGX) Sets New 52-Week High - Here's What Happened

Key Points

• Protagonist Therapeutics (NASDAQ: PTGX) hit a new 52-week high on Monday, trading as high as $141.50 and last at $142.35.
• Recent analyst commentary has been broadly positive, including target raises from Citizens JMP, Wedbush, and Truist, while Zacks upgraded the stock to strong-buy. The consensus rating remains Moderate Buy.
• The company recently beat earnings expectations, posting $0.05 EPS versus a forecast loss of $0.50 and revenue of $56.37 million versus $11.70 million expected. However, insiders have sold shares in recent months, including notable sales by two directors.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $141.50 and last traded at $142.3450, with a volume of 1279 shares changing hands. The stock had previously closed at $140.91.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PTGX shares. Citizens Jmp raised their price target on Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a "market outperform" rating in a research report on Wednesday, May 6th. Wedbush increased their target price on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Protagonist Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Citigroup reaffirmed an "outperform" rating on shares of Protagonist Therapeutics in a research note on Friday. Finally, Truist Financial upped their price target on shares of Protagonist Therapeutics from $121.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Protagonist Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $123.00.

Protagonist Therapeutics Stock Performance

The stock has a fifty day moving average of $113.50 and a 200-day moving average of $99.72. The company has a market cap of $9.05 billion, a PE ratio of -77.76 and a beta of 1.79.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million for the quarter, compared to analyst estimates of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. As a group, equities analysts anticipate that Protagonist Therapeutics, Inc. will post 2.93 EPS for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director Bryan Giraudo sold 6,000 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $100.00, for a total value of $600,000.00. Following the transaction, the director directly owned 31,825 shares in the company, valued at $3,182,500. This represents a 15.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Waddill sold 9,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 7,825 shares in the company, valued at approximately $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 161,130 shares of company stock worth $16,355,220 in the last 90 days. 5.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock valued at $26,000 after purchasing an additional 156 shares in the last quarter. Greenline Wealth Management LLC purchased a new position in shares of Protagonist Therapeutics during the fourth quarter valued at $27,000. Osaic Holdings Inc. raised its holdings in shares of Protagonist Therapeutics by 79.5% in the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock valued at $65,000 after acquiring an additional 525 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Protagonist Therapeutics by 222.4% in the fourth quarter. Hantz Financial Services Inc. now owns 951 shares of the company's stock valued at $83,000 after acquiring an additional 656 shares in the last quarter. Finally, Canton Hathaway LLC purchased a new stake in Protagonist Therapeutics in the fourth quarter worth about $87,000. Institutional investors own 98.63% of the company's stock.

About Protagonist Therapeutics

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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