Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives Average Recommendation of “Buy” from Brokerages

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been given a consensus rating of “Buy” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $53.57.

A number of analysts recently commented on the stock. Wedbush restated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Truist Financial started coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, JMP Securities reduced their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th.

Insider Buying and Selling

In other news, insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were 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 trade represents a 3.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of Protagonist Therapeutics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the sale, the chief executive officer now directly owns 435,208 shares of the company’s stock, valued at $20,437,367.68. This represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,066 shares of company stock worth $10,681,738 over the last ninety days. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in shares of Protagonist Therapeutics in the 1st quarter worth about $35,000. Vanguard Group Inc. grew its position in Protagonist Therapeutics by 1.2% during 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 last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Protagonist Therapeutics by 74.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after acquiring an additional 3,870 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Protagonist Therapeutics in the 1st quarter worth approximately $69,000. Finally, Caxton Associates LP purchased a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at $464,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

Shares of Protagonist Therapeutics stock opened at $43.80 on Tuesday. The stock has a market capitalization of $2.61 billion, a P/E ratio of 16.47 and a beta of 2.17. Protagonist Therapeutics has a 52-week low of $17.70 and a 52-week high of $48.89. The stock’s 50-day simple moving average is $45.15 and its 200 day simple moving average is $39.83.

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.