Moran Wealth Management LLC Buys 931 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Moran Wealth Management LLC boosted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,961 shares of the company’s stock after acquiring an additional 931 shares during the period. Moran Wealth Management LLC’s holdings in Protagonist Therapeutics were worth $616,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PTGX. Janney Montgomery Scott LLC acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth $866,000. Amalgamated Bank lifted its position in Protagonist Therapeutics by 756.4% during the third quarter. Amalgamated Bank now owns 17,324 shares of the company’s stock worth $780,000 after purchasing an additional 15,301 shares during the period. Entropy Technologies LP bought a new stake in Protagonist Therapeutics during the third quarter worth about $312,000. Victory Capital Management Inc. grew its stake in Protagonist Therapeutics by 1,729.3% during the third quarter. Victory Capital Management Inc. now owns 130,797 shares of the company’s stock worth $5,886,000 after buying an additional 123,647 shares in the last quarter. Finally, Mutual of America Capital Management LLC bought a new position in Protagonist Therapeutics in the 3rd quarter valued at about $399,000. 98.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PTGX has been the topic of several analyst reports. Truist Financial increased their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group cut their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. JMP Securities reissued a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Finally, HC Wainwright reissued a “buy” rating and set a $54.00 target price on shares of Protagonist Therapeutics in a research note on Monday. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $61.22.

Protagonist Therapeutics Trading Down 3.5 %

Shares of PTGX stock opened at $57.65 on Thursday. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 21.67 and a beta of 2.34. The business’s 50-day moving average price is $39.00 and its 200-day moving average price is $42.06. Protagonist Therapeutics, Inc. has a 12 month low of $24.22 and a 12 month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The business had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. On average, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the transaction, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.40% of the stock is owned by company insiders.

Protagonist Therapeutics 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.