Protagonist Therapeutics’ (PTGX) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note published on Friday,Benzinga reports. The brokerage currently has a $70.00 price objective on the stock.

A number of other research firms have also weighed in on PTGX. BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, March 3rd. JMP Securities reiterated a “market outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. HC Wainwright reissued a “buy” rating and set a $54.00 price objective on shares of Protagonist Therapeutics in a report on Monday, March 10th. Truist Financial lifted their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group lowered their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $62.56.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX opened at $48.88 on Friday. The stock has a market capitalization of $3.00 billion, a PE ratio of 18.38 and a beta of 2.34. Protagonist Therapeutics has a one year low of $24.22 and a one year high of $60.60. The business’s fifty day moving average price is $42.54 and its 200-day moving average price is $42.90.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of ($0.09) by $2.07. The business had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, equities analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the sale, the insider now owns 83,892 shares in the company, valued at $4,676,140.08. This trade represents a 26.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,776 shares of company stock valued at $3,585,010. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Large investors have recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new stake in Protagonist Therapeutics in the fourth quarter worth approximately $38,000. GF Fund Management CO. LTD. bought a new stake in shares of Protagonist Therapeutics in the 4th quarter worth approximately $48,000. Covestor Ltd boosted its stake 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 in the last quarter. KBC Group NV grew its holdings in shares of Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after purchasing an additional 737 shares during the last quarter. Finally, New Vernon Capital Holdings II LLC purchased a new position in Protagonist Therapeutics in the 4th quarter worth $118,000. 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.