BMO Capital Markets Issues Positive Forecast for Protagonist Therapeutics (NASDAQ:PTGX) Stock Price

Protagonist Therapeutics (NASDAQ:PTGX) had its target price boosted by equities researchers at BMO Capital Markets from $62.00 to $72.00 in a report released on Tuesday, Marketbeat reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 24.89% from the stock’s current price.

A number of other brokerages have also issued reports on PTGX. The Goldman Sachs Group lowered their target price on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Wedbush reiterated an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 21st. StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $54.00 price target on shares of Protagonist Therapeutics in a research note on Monday. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $61.22.

Protagonist Therapeutics Stock Down 3.5 %

Shares of NASDAQ:PTGX opened at $57.65 on Tuesday. The firm’s 50 day moving average price is $39.00 and its 200 day moving average price is $42.06. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 21.67 and a beta of 2.34. Protagonist Therapeutics has a fifty-two week low of $24.22 and a fifty-two week high of $60.60.

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

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics 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 owns 540,260 shares in the company, valued at $20,627,126.80. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Protagonist Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp grew its holdings in shares of Protagonist Therapeutics by 174.6% during the 4th quarter. Mackenzie Financial Corp now owns 21,349 shares of the company’s stock worth $824,000 after purchasing an additional 13,575 shares during the period. Toronto Dominion Bank acquired a new position in shares of Protagonist Therapeutics in the 4th quarter valued at approximately $13,162,000. Cache Advisors LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter valued at approximately $392,000. GF Fund Management CO. LTD. acquired a new position in shares of Protagonist Therapeutics in the 4th quarter valued at approximately $48,000. Finally, Woodline Partners LP raised its position in shares of Protagonist Therapeutics by 24.8% in the 4th quarter. Woodline Partners LP now owns 582,327 shares of the company’s stock valued at $22,478,000 after purchasing an additional 115,809 shares in the last quarter. Hedge funds and other institutional investors 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.