Protagonist Therapeutics (NASDAQ:PTGX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Several other brokerages have also recently issued reports on PTGX. JPMorgan Chase & Co. raised their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. BTIG Research raised their price target on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. JMP Securities dropped their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a market outperform rating on the stock in a report on Wednesday, August 7th. Finally, HC Wainwright raised their target price on shares of Protagonist Therapeutics from $38.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $42.80.

Protagonist Therapeutics Trading Up 4.1 %

Shares of Protagonist Therapeutics stock opened at $38.72 on Thursday. The firm’s 50 day simple moving average is $35.11 and its two-hundred day simple moving average is $30.51. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 15.87 and a beta of 2.13. Protagonist Therapeutics has a 12-month low of $13.72 and a 12-month high of $42.67.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. On average, sell-side analysts predict that Protagonist Therapeutics will post 2.24 EPS for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $35.00, for a total value of $280,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $420,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the sale, the chief executive officer now directly owns 515,415 shares in the company, valued at approximately $18,137,453.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $35.00, for a total value of $280,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $420,000. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock valued at $1,831,650 in the last 90 days. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Protagonist Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new position in shares of Protagonist Therapeutics during the 1st quarter valued at approximately $35,000. Lazard Asset Management LLC purchased a new position in Protagonist Therapeutics during the first quarter valued at $69,000. Seven Eight Capital LP acquired a new stake in shares of Protagonist Therapeutics in the first quarter valued at about $202,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Protagonist Therapeutics by 74.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after purchasing an additional 3,870 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Protagonist Therapeutics during the 4th quarter worth about $210,000. 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.