HC Wainwright Raises Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $50.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price target upped by HC Wainwright from $40.00 to $50.00 in a research note issued to investors on Thursday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. JMP Securities cut their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a market outperform rating on the stock in a report on Wednesday, August 7th. StockNews.com raised shares of Protagonist Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 8th. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They issued a buy rating and a $60.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an overweight rating in a research report on Thursday, July 25th. Finally, BTIG Research lifted their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a buy rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy and a consensus price target of $47.33.

Protagonist Therapeutics Trading Up 3.0 %

NASDAQ PTGX opened at $47.02 on Thursday. The stock has a fifty day simple moving average of $39.76 and a 200-day simple moving average of $33.21. The stock has a market cap of $2.77 billion, a PE ratio of 19.27 and a beta of 2.17. Protagonist Therapeutics has a twelve month low of $13.72 and a twelve month high of $47.15.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million for the quarter, compared to analysts’ expectations of $40.00 million. Research analysts predict that Protagonist Therapeutics will post 2.31 EPS for the current year.

Insider Activity

In related news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at $540,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the transaction, the chief financial officer now owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William D. Waddill sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares of the company’s stock, valued at $540,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,203 shares of company stock worth $1,311,891. 5.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Protagonist Therapeutics

A number of large investors have recently bought and sold shares of the business. Farallon Capital Management LLC raised its position in Protagonist Therapeutics by 1.8% during the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock worth $202,383,000 after buying an additional 101,800 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Protagonist Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after acquiring an additional 39,055 shares during the period. Kynam Capital Management LP boosted its position in shares of Protagonist Therapeutics by 10.2% during the 4th quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock worth $45,972,000 after purchasing an additional 186,218 shares in the last quarter. Perceptive Advisors LLC increased its holdings in shares of Protagonist Therapeutics by 27.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock valued at $43,962,000 after purchasing an additional 274,412 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Protagonist Therapeutics by 2,135.6% in the second quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock valued at $33,205,000 after purchasing an additional 915,418 shares during the period. 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.