Protagonist Therapeutics (NASDAQ:PTGX) Shares Up 6.1% - What's Next?

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) rose 6.1% during trading on Tuesday . The company traded as high as $46.77 and last traded at $47.79. Approximately 79,930 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 830,507 shares. The stock had previously closed at $45.03.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JMP Securities restated a "market outperform" rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Wedbush reaffirmed an "outperform" rating and set a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th. JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. BMO Capital Markets boosted their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Finally, Truist Financial increased their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.44.

Protagonist Therapeutics Trading Up 1.0 %

The stock's fifty day simple moving average is $44.86 and its 200-day simple moving average is $42.80. The stock has a market capitalization of $2.84 billion, a PE ratio of 17.40 and a beta of 2.30.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The firm had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. As a group, analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Asif Ali sold 24,903 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 62,821 shares in the company, valued at $3,689,477.33. This trade represents a 28.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $1,700,850.36. Following the transaction, the insider now directly owns 83,892 shares of the company's stock, valued at approximately $4,676,140.08. This trade represents a 26.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,776 shares of company stock worth $3,585,010. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its position in Protagonist Therapeutics by 127.2% during the third quarter. Franklin Resources Inc. now owns 81,591 shares of the company's stock worth $3,782,000 after purchasing an additional 45,674 shares during the period. Principal Financial Group Inc. grew its stake in Protagonist Therapeutics by 3,099.4% in the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock valued at $14,437,000 after buying an additional 310,804 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Protagonist Therapeutics by 36.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 216,069 shares of the company's stock valued at $8,340,000 after acquiring an additional 58,002 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Protagonist Therapeutics during the fourth quarter worth $2,016,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Protagonist Therapeutics by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company's stock worth $22,327,000 after acquiring an additional 12,906 shares during the period. Hedge funds and other 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.