Protagonist Therapeutics (NASDAQ:PTGX) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note issued to investors on Tuesday morning,RTT News reports. They currently have a $58.00 price objective on the stock. Wedbush also issued estimates for Protagonist Therapeutics’ Q1 2025 earnings at $1.92 EPS and FY2025 earnings at ($0.16) EPS.

A number of other brokerages have also recently issued reports on PTGX. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday. JMP Securities reduced their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 7th. Truist Financial began coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock. BTIG Research raised their target price 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, JPMorgan Chase & Co. raised their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $53.57.

Protagonist Therapeutics Stock Up 11.5 %

PTGX opened at $46.46 on Tuesday. The stock has a market cap of $2.77 billion, a PE ratio of 17.47 and a beta of 2.17. Protagonist Therapeutics has a 52 week low of $16.80 and a 52 week high of $48.89. The business’s fifty day simple moving average is $45.26 and its 200 day simple moving average is $39.02.

Insider Activity

In related news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares in the company, valued at $540,000. The trade was a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arturo Md Molina sold 1,906 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the transaction, the insider now owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,109 shares of company stock worth $1,069,999. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PTGX. Mirae Asset Global Investments Co. Ltd. grew its position in Protagonist Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after purchasing an additional 379 shares during the period. GAMMA Investing LLC grew its position in Protagonist Therapeutics by 749.2% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after purchasing an additional 487 shares during the period. Exchange Traded Concepts LLC bought a new stake in Protagonist Therapeutics in the 3rd quarter worth approximately $43,000. CWM LLC grew its position in shares of Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after acquiring an additional 1,147 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Protagonist Therapeutics by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock valued at $415,000 after acquiring an additional 1,206 shares during the period. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.