Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $53.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $51.00 to $53.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 39.28% from the company’s previous close.

Other analysts have also issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, December 10th. The Goldman Sachs Group initiated coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 price target on the stock. Finally, BMO Capital Markets began coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They issued an “outperform” rating and a $62.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $54.33.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock traded up $0.85 on Tuesday, hitting $38.05. The company had a trading volume of 43,244 shares, compared to its average volume of 528,014. The firm has a market cap of $2.27 billion, a P/E ratio of 14.28 and a beta of 2.22. The stock’s 50-day moving average is $39.68 and its two-hundred day moving average is $41.89. Protagonist Therapeutics has a twelve month low of $24.22 and a twelve month high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.05. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The company had revenue of $4.68 million during the quarter, compared to analysts’ expectations of $4.50 million. Equities research analysts predict that Protagonist Therapeutics will post 2.28 EPS for the current year.

Insider Buying and Selling

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were 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 in the company, valued at approximately $2,076,046.80. This trade represents a 35.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.96, for a total value of $3,687,299.20. Following the completion of the sale, the chief executive officer now owns 435,208 shares of the company’s stock, valued at $20,437,367.68. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,863 shares of company stock valued at $9,689,847 over the last quarter. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PTGX. Nisa Investment Advisors LLC lifted its holdings in shares of Protagonist Therapeutics by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after buying an additional 295 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Protagonist Therapeutics by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock valued at $1,112,000 after acquiring an additional 300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 valued at $95,000 after acquiring an additional 379 shares during the last quarter. GAMMA Investing LLC lifted its stake in Protagonist Therapeutics by 749.2% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after purchasing an additional 487 shares in the last quarter. Finally, KBC Group NV lifted its stake in Protagonist Therapeutics by 54.4% in the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after purchasing an additional 737 shares in the last quarter. 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.