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

Key Points

• HC Wainwright has reaffirmed a "buy" rating for Protagonist Therapeutics (PTGX) with a price target of $80.00, indicating a potential upside of 22.19%.
• The stock has received ratings from multiple analysts, with one analyst issuing a Strong Buy, nine issuing a Buy, and one giving a Sell, resulting in an average rating of "Moderate Buy".
• Protagonist Therapeutics reported a loss of ($0.55) per share for the last quarter, falling short of the consensus estimate of ($0.53), with revenue of $5.55 million against expectations of $8.32 million.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $80.00 price target on the stock. HC Wainwright's price objective would indicate a potential upside of 22.19% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. JMP Securities raised their price target on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Leerink Partnrs upgraded shares of Protagonist Therapeutics to a "strong-buy" rating in a report on Friday, September 12th. Johnson Rice set a $74.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday. Barclays started coverage on shares of Protagonist Therapeutics in a report on Wednesday, September 17th. They set an "overweight" rating and a $72.00 price objective for the company. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Protagonist Therapeutics in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Protagonist Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $68.83.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $65.47 on Wednesday. The company has a fifty day moving average price of $58.94 and a 200-day moving average price of $52.62. The company has a market capitalization of $4.07 billion, a P/E ratio of 93.53 and a beta of 2.20. Protagonist Therapeutics has a 52-week low of $33.31 and a 52-week high of $68.26.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted 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). Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%.The firm had revenue of $5.55 million for the quarter, compared to analyst estimates of $8.32 million. As a group, sell-side analysts forecast that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 shares were sold at an average price of $55.05, for a total transaction of $1,214,678.25. Following the completion of the transaction, the chief executive officer owned 548,538 shares of the company's stock, valued at approximately $30,197,016.90. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $64.25, for a total transaction of $257,000.00. Following the transaction, the director directly owned 5,130 shares of the company's stock, valued at approximately $329,602.50. This represents a 43.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,859 shares of company stock valued at $3,944,577 in the last quarter. Corporate insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds have recently bought and sold shares of PTGX. FNY Investment Advisers LLC purchased a new position in Protagonist Therapeutics in the 2nd quarter worth approximately $27,000. Bessemer Group Inc. grew its stake in Protagonist Therapeutics by 171.0% in the 2nd 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 grew its stake in Protagonist Therapeutics by 201.5% in the 2nd 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. Osaic Holdings Inc. grew its stake in Protagonist Therapeutics by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock worth $65,000 after buying an additional 525 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Protagonist Therapeutics by 153.3% in the 1st 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. Hedge funds and other 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.

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