Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives Consensus Rating of “Buy” from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned an average rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $53.78.

PTGX has been the topic of several research analyst reports. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, December 10th. BMO Capital Markets started coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set a “neutral” rating and a $47.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th.

Protagonist Therapeutics Stock Up 4.9 %

PTGX stock opened at $41.49 on Friday. The company’s fifty day simple moving average is $44.02 and its 200 day simple moving average is $40.88. Protagonist Therapeutics has a 12-month low of $20.88 and a 12-month high of $48.89. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 15.60 and a beta of 2.18.

Insiders Place Their Bets

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the sale, the insider now directly owns 46,444 shares of the company’s stock, valued at approximately $2,076,046.80. The trade was a 35.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.96, for a total value of $3,687,299.20. Following the completion of the transaction, the chief executive officer now owns 435,208 shares in the company, valued at $20,437,367.68. This represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,863 shares of company stock worth $9,689,847. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after purchasing an additional 487 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Protagonist Therapeutics in the 3rd quarter worth about $43,000. CWM LLC increased its stake in Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after buying an additional 1,147 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $69,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 buying an additional 379 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.