Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised its price target for Protagonist Therapeutics from $112 to $178 and maintained an “outperform” rating, implying 14.76% upside from the prior close.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $140.53, although some firms recently downgraded their ratings.
• Protagonist reported quarterly EPS of $2.29 and revenue of $213.47 million, exceeding estimates; revenue surged 3,746.8% year over year. However, insiders sold $17.8 million of stock over the past 90 days.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) had its target price increased by BMO Capital Markets from $112.00 to $178.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' price objective points to a potential upside of 14.76% from the company's previous close.

Other research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Protagonist Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Zacks Research downgraded shares of Protagonist Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 7th. Johnson Rice set a $165.00 price objective on shares of Protagonist Therapeutics in a report on Friday, July 17th. Citigroup boosted their price objective on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Barclays upped their target price on Protagonist Therapeutics from $151.00 to $153.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $140.53.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX opened at $155.10 on Monday. The business's 50-day moving average is $129.77 and its 200 day moving average is $107.77. Protagonist Therapeutics has a 1 year low of $54.18 and a 1 year high of $155.53. The firm has a market capitalization of $10.04 billion, a P/E ratio of 150.58 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.02. The business had revenue of $213.47 million during the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The business's quarterly revenue was up 3746.8% on a year-over-year basis. On average, analysts expect that Protagonist Therapeutics will post 4.22 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $148.52, for a total value of $5,085,176.28. Following the completion of the transaction, the chief executive officer owned 523,478 shares of the company's stock, valued at approximately $77,746,952.56. This represents a 6.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the company'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 value of $1,061,460.00. Following the transaction, the director directly owned 7,825 shares of the company's stock, valued at approximately $922,880.50. The trade was a 53.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 127,000 shares of company stock worth $17,818,139. Insiders own 5.19% 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 the stock. BlackRock Inc. purchased a new position in Protagonist Therapeutics during the second quarter valued at $1,263,535,000. Johnson & Johnson acquired a new stake in shares of Protagonist Therapeutics in the second quarter valued at about $300,220,852,000. Jupiter Topco LLC purchased a new stake in shares of Protagonist Therapeutics during the second quarter worth about $261,039,000. Janus Henderson Group PLC increased its stake in shares of Protagonist Therapeutics by 140.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company's stock worth $231,355,000 after purchasing an additional 1,549,160 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Protagonist Therapeutics during the 2nd quarter worth about $162,357,000. Institutional investors and hedge funds 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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