The Goldman Sachs Group Cuts Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $38.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective reduced by The Goldman Sachs Group from $43.00 to $38.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently issued reports on PTGX. JMP Securities reiterated a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 21st. Finally, HC Wainwright increased their price target on Protagonist Therapeutics from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.44.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $36.15 on Monday. Protagonist Therapeutics has a 1-year low of $24.22 and a 1-year high of $48.89. The company’s fifty day simple moving average is $38.09 and its 200-day simple moving average is $41.85. The stock has a market capitalization of $2.15 billion, a PE ratio of 13.59 and a beta of 2.22.

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

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the transaction, the chief executive officer now owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in PTGX. Pacer Advisors Inc. increased its stake in Protagonist Therapeutics by 405,061.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after buying an additional 1,733,662 shares during the period. State Street Corp grew its stake in Protagonist Therapeutics by 52.9% in the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after acquiring an additional 1,101,218 shares in the last quarter. Deep Track Capital LP purchased a new position in shares of Protagonist Therapeutics during the fourth quarter worth approximately $38,600,000. Wellington Management Group LLP raised its stake in shares of Protagonist Therapeutics by 3,025.4% during the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock valued at $36,287,000 after acquiring an additional 909,998 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Protagonist Therapeutics by 61.5% in the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock valued at $35,832,000 after purchasing an additional 353,511 shares during the period. 98.63% of the stock is currently owned by 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.