The Goldman Sachs Group Cuts Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $38.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective cut by research analysts at The Goldman Sachs Group from $43.00 to $38.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 8.29% from the company’s current price.

A number of other research analysts have also issued reports on PTGX. Wedbush reiterated an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 21st. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a report on Friday, December 6th. They issued an “outperform” rating and a $62.00 target price for the company. HC Wainwright lifted their target price on Protagonist Therapeutics from $50.00 to $54.00 and gave the company a “buy” rating in a report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. Finally, StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.44.

Protagonist Therapeutics Stock Down 2.5 %

PTGX stock opened at $35.09 on Monday. The business has a fifty day moving average of $38.26 and a two-hundred day moving average of $41.92. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 13.19 and a beta of 2.22. Protagonist Therapeutics has a 52-week low of $24.22 and a 52-week high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. As a group, sell-side analysts anticipate that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.40% of the stock is owned by company insiders.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in PTGX. FNY Investment Advisers LLC purchased a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at about $38,000. GF Fund Management CO. LTD. purchased a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at about $48,000. CWM LLC lifted its holdings in shares of Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Protagonist Therapeutics by 5,200.0% in the 4th quarter. Covestor Ltd now owns 1,643 shares of the company’s stock valued at $63,000 after purchasing an additional 1,612 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at about $69,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.