Protagonist Therapeutics (NASDAQ:PTGX) Shares Down 4.8% - What's Next?

Key Points

• Protagonist Therapeutics' stock fell by 4.8% to $82.85 during mid-day trading, with a significant increase in trading volume compared to the average.
• The company received multiple analyst ratings, including a "strong-buy" rating from Leerink Partners and a price target of $112.00 from Johnson Rice.
• Protagonist Therapeutics reported a quarterly loss of ($0.55) earnings per share, missing the consensus estimate, and generated $5.55 million in revenue, below expectations.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report)'s stock price traded down 4.8% during mid-day trading on Monday . The stock traded as low as $82.62 and last traded at $82.85. 2,063,660 shares changed hands during trading, an increase of 110% from the average session volume of 983,783 shares. The stock had previously closed at $87.00.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Leerink Partnrs raised shares of Protagonist Therapeutics to a "strong-buy" rating in a research note on Friday, September 12th. Leerink Partners assumed coverage on Protagonist Therapeutics in a research note on Friday, September 12th. They issued an "outperform" rating and a $73.00 price target on the stock. Johnson Rice set a $112.00 price target on Protagonist Therapeutics in a research report on Monday. BMO Capital Markets restated an "outperform" rating on shares of Protagonist Therapeutics in a research report on Monday. Finally, HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Protagonist Therapeutics Price Performance

The company has a market cap of $4.91 billion, a price-to-earnings ratio of 112.79 and a beta of 2.20. The firm has a 50-day moving average price of $60.08 and a 200 day moving average price of $53.10.

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

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction dated 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 in the company, valued at approximately $329,602.50. The trade was a 43.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 22,065 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $55.05, for a total value of $1,214,678.25. Following the completion of the transaction, the chief executive officer owned 548,538 shares in the company, valued at $30,197,016.90. The trade was a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,859 shares of company stock valued at $3,944,577 in the last quarter. Company insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of large investors have recently modified their holdings of PTGX. FNY Investment Advisers LLC purchased a new stake in Protagonist Therapeutics during the 2nd quarter valued at $27,000. Bessemer Group Inc. increased its position in Protagonist Therapeutics by 171.0% in the second 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 increased its position in Protagonist Therapeutics by 201.5% in the second 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. GAMMA Investing LLC increased its position in Protagonist Therapeutics by 153.3% in the first 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. Finally, Smartleaf Asset Management LLC increased its position in Protagonist Therapeutics by 141.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company's stock worth $59,000 after buying an additional 710 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.