HC Wainwright Has Bullish Forecast for PTGX FY2024 Earnings

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) – Investment analysts at HC Wainwright upped their FY2024 earnings per share estimates for shares of Protagonist Therapeutics in a research note issued to investors on Monday, November 11th. HC Wainwright analyst D. Tsao now anticipates that the company will earn $1.82 per share for the year, up from their previous estimate of $1.44. HC Wainwright has a “Buy” rating and a $50.00 price target on the stock. The consensus estimate for Protagonist Therapeutics’ current full-year earnings is $2.28 per share. HC Wainwright also issued estimates for Protagonist Therapeutics’ Q4 2024 earnings at ($0.41) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.53) EPS, FY2025 earnings at ($0.38) EPS, FY2026 earnings at ($1.55) EPS and FY2027 earnings at ($0.41) EPS.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped 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. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Truist Financial started coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 target price for the company. BTIG Research boosted their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $53.57.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX opened at $41.11 on Thursday. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 15.45 and a beta of 2.17. Protagonist Therapeutics has a 1-year low of $15.58 and a 1-year high of $48.89. The business has a 50-day moving average of $45.64 and a 200-day moving average of $38.50.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors have recently made changes to their positions in PTGX. GAMMA Investing LLC grew its stake in Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after buying an additional 487 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Protagonist Therapeutics during the first quarter worth about $35,000. Exchange Traded Concepts LLC acquired a new stake in shares of Protagonist Therapeutics in the 3rd quarter worth about $43,000. CWM LLC lifted its position in 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. Finally, Lazard Asset Management LLC bought a new stake in Protagonist Therapeutics in the 1st quarter valued at about $69,000. 98.63% of the stock is owned by institutional investors.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now owns 12,000 shares in the company, valued at $540,000. This represents a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.40% 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.