Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $55.89 Average PT from Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has received a consensus rating of “Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $61.22.

A number of research analysts recently weighed in on the company. 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. JMP Securities reissued a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and issued a $54.00 price objective on shares of Protagonist Therapeutics in a research note on Monday. Wedbush reissued an “outperform” rating on shares of Protagonist Therapeutics in a research note on Tuesday. Finally, BTIG Research set a $73.00 target price on Protagonist Therapeutics in a report on Monday, March 3rd.

Protagonist Therapeutics Price Performance

PTGX opened at $57.65 on Thursday. Protagonist Therapeutics has a fifty-two week low of $24.22 and a fifty-two week high of $60.60. The business has a 50-day moving average of $39.00 and a 200-day moving average of $42.06. The company has a market capitalization of $3.54 billion, a PE ratio of 21.67 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The company had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million. On average, equities research analysts expect that Protagonist Therapeutics 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 Protagonist Therapeutics 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 sale, the chief executive officer now owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is owned by insiders.

Institutional Trading of Protagonist Therapeutics

Several institutional investors have recently modified their holdings of PTGX. FNY Investment Advisers LLC acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $38,000. GF Fund Management CO. LTD. acquired a new stake in Protagonist Therapeutics in the 4th quarter valued at $48,000. Covestor Ltd boosted its stake in Protagonist Therapeutics by 5,200.0% in the 4th quarter. Covestor Ltd now owns 1,643 shares of the company’s stock valued at $63,000 after buying an additional 1,612 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Protagonist Therapeutics in the 3rd quarter valued at $69,000. Finally, KBC Group NV boosted 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 valued at $81,000 after buying an additional 737 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

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.