Protagonist Therapeutics' (PTGX) Buy Rating Reiterated at HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $80.00 price target on the stock. HC Wainwright's target price suggests a potential upside of 55.25% from the stock's previous close.

PTGX has been the topic of several other research reports. 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 report on Monday, February 24th. Wedbush reissued an "outperform" rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Truist Financial upped their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lifted their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets upped their target price on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, one has issued 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $65.44.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX traded up $0.47 during trading hours on Tuesday, reaching $51.53. The stock had a trading volume of 693,302 shares, compared to its average volume of 891,886. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 19.37 and a beta of 2.65. The firm's 50 day moving average is $45.29 and its 200-day moving average is $42.74. Protagonist Therapeutics has a 1 year low of $28.96 and a 1 year high of $60.60.

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

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.25, for a total transaction of $217,000.00. Following the transaction, the director now owns 13,130 shares in the company, valued at approximately $712,302.50. The trade was a 23.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Arturo Md Molina sold 30,514 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 83,892 shares of the company's stock, valued at $4,676,140.08. This represents a 26.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,173 shares of company stock worth $3,461,180 in the last three months. Insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position 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 valued at $58,000 after buying an additional 728 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 valued at $59,000 after purchasing an additional 710 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $48,000. Brooklyn Investment Group purchased a new position in shares of Protagonist Therapeutics during the 1st quarter worth approximately $68,000. Finally, Covestor Ltd raised its position in shares of Protagonist Therapeutics by 5,200.0% during the 4th 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 last quarter. Institutional investors and hedge funds 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.