Protagonist Therapeutics (NASDAQ:PTGX) Issues Earnings Results

Protagonist Therapeutics (NASDAQ:PTGX) released its quarterly earnings data on Tuesday. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.50), Zacks reports. The firm had revenue of $4.17 million during the quarter, compared to the consensus estimate of $40.00 million.

Protagonist Therapeutics Price Performance

Shares of PTGX stock traded down $0.42 during mid-day trading on Wednesday, hitting $35.79. The stock had a trading volume of 785,494 shares, compared to its average volume of 791,232. Protagonist Therapeutics has a 12-month low of $13.72 and a 12-month high of $42.67. The firm has a market capitalization of $2.10 billion, a P/E ratio of 14.67 and a beta of 2.13. The firm’s 50-day moving average is $34.55 and its two-hundred day moving average is $30.29.

Analysts Set New Price Targets

PTGX has been the topic of a number of research reports. HC Wainwright lifted their price objective on Protagonist Therapeutics from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. JMP Securities dropped their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday. Finally, BTIG Research lifted their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.80.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $480,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $480,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $35.19, for a total value of $1,231,650.00. Following the completion of the transaction, the chief executive officer now directly owns 515,415 shares in the company, valued at $18,137,453.85. The disclosure for this sale can be found here. In the last three months, insiders sold 51,000 shares of company stock valued at $1,831,650. Corporate 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.