Protagonist Therapeutics’ (PTGX) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note published on Monday, Benzinga reports. JMP Securities currently has a $45.00 price objective on the stock.

Several other equities research analysts have also issued reports on the stock. StockNews.com raised shares of Protagonist Therapeutics from a sell rating to a hold rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. boosted their price target on Protagonist Therapeutics from $34.00 to $37.00 and gave the stock an overweight rating in a research report on Wednesday, February 28th. Finally, HC Wainwright reissued a buy rating and set a $38.00 price objective on shares of Protagonist Therapeutics in a report on Friday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of Moderate Buy and an average target price of $38.00.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $32.47 on Monday. Protagonist Therapeutics has a fifty-two week low of $13.72 and a fifty-two week high of $35.96. The stock’s 50-day moving average is $28.98 and its two-hundred day moving average is $26.94. The firm has a market cap of $1.90 billion, a P/E ratio of 13.31 and a beta of 2.12.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, May 7th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.75. The firm had revenue of $254.95 million during the quarter, compared to analyst estimates of $300.00 million. As a group, research analysts expect that Protagonist Therapeutics will post 1.67 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $35.19, for a total value of $1,231,650.00. Following the sale, the chief executive officer now directly owns 515,415 shares of the company’s stock, valued at $18,137,453.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $35.00, for a total transaction of $280,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $420,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the completion of the sale, the chief executive officer now directly owns 515,415 shares of the company’s stock, valued at $18,137,453.85. The disclosure for this sale can be found here. Insiders sold a total of 69,234 shares of company stock valued at $2,250,386 in the last quarter. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Protagonist Therapeutics by 2.6% during the third quarter. Vanguard Group Inc. now owns 3,228,394 shares of the company’s stock worth $53,850,000 after buying an additional 80,639 shares in the last quarter. Kynam Capital Management LP lifted its position in shares of Protagonist Therapeutics by 10.2% in the 4th quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock worth $45,972,000 after acquiring an additional 186,218 shares during the period. Braidwell LP acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $18,501,000. FMR LLC increased its position in shares of Protagonist Therapeutics by 0.4% during the third quarter. FMR LLC now owns 509,242 shares of the company’s stock valued at $8,494,000 after purchasing an additional 1,835 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Protagonist Therapeutics by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 455,321 shares of the company’s stock valued at $10,441,000 after purchasing an additional 16,219 shares in the last quarter. Institutional investors and hedge funds 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.