Protagonist Therapeutics (NASDAQ:PTGX) Receives Buy Rating from HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $80.00 target price on the stock. HC Wainwright's price target suggests a potential upside of 47.11% from the company's previous close.

A number of other brokerages also recently weighed in on PTGX. The Goldman Sachs Group cut their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Truist Financial lifted their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Wall Street Zen cut shares of Protagonist Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Wedbush reaffirmed an "outperform" rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a report on Friday, March 28th. Finally, BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $65.44.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX traded up $0.56 during midday trading on Tuesday, reaching $54.38. The company's stock had a trading volume of 1,073,526 shares, compared to its average volume of 891,210. Protagonist Therapeutics has a 12-month low of $30.67 and a 12-month high of $60.60. The firm has a 50 day moving average price of $45.60 and a 200-day moving average price of $43.01. The stock has a market capitalization of $3.37 billion, a P/E ratio of 20.44 and a beta of 2.65.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The firm had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. On average, equities analysts predict that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the sale, the director now owns 13,130 shares of the company's stock, valued at $712,302.50. The trade was a 23.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Asif Ali sold 1,756 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total transaction of $80,776.00. Following the sale, the chief financial officer now directly owns 61,065 shares in the company, valued at $2,808,990. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,173 shares of company stock valued at $3,461,180. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new stake in Protagonist Therapeutics during the 4th quarter valued at $48,000. GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 728 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of 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 purchasing an additional 710 shares during the period. Covestor Ltd increased its holdings in shares of Protagonist Therapeutics by 5,200.0% in the fourth quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after purchasing an additional 1,612 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Protagonist Therapeutics in the first quarter worth $68,000. Institutional investors 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.