Protagonist Therapeutics’ (PTGX) “Buy” Rating Reiterated at HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $50.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 23.00% from the stock’s previous close.

A number of other research analysts also recently issued reports on PTGX. JMP Securities cut their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Truist Financial started coverage on Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. BTIG Research boosted their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $53.57.

Protagonist Therapeutics Trading Up 5.2 %

Shares of NASDAQ:PTGX opened at $40.65 on Tuesday. The stock has a 50 day moving average of $45.43 and a 200 day moving average of $38.99. The company has a market cap of $2.42 billion, a PE ratio of 15.28 and a beta of 2.17. Protagonist Therapeutics has a 12-month low of $16.80 and a 12-month high of $48.89.

Insider Transactions at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 1,906 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $40.98, for a total transaction of $78,107.88. Following the sale, the insider now owns 46,444 shares in the company, valued at approximately $1,903,275.12. This represents a 3.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,109 shares of company stock valued at $1,069,999 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Protagonist Therapeutics by 749.2% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after acquiring an additional 487 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics in the 1st quarter valued at $35,000. Exchange Traded Concepts LLC bought a new position in shares of Protagonist Therapeutics during the 3rd quarter worth $43,000. CWM LLC grew its position in shares of Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after buying an additional 1,147 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Protagonist Therapeutics during the 1st quarter worth $69,000. Institutional investors 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.