Protagonist Therapeutics (NASDAQ:PTGX) Coverage Initiated at TD Cowen

Analysts at TD Cowen started coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $65.00 price target on the stock. TD Cowen’s target price indicates a potential upside of 40.88% from the stock’s current price.

A number of other brokerages also recently issued reports on PTGX. BTIG Research upped their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. HC Wainwright upped their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. JMP Securities decreased their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $49.86.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $46.14 on Tuesday. The stock has a 50 day moving average price of $41.40 and a 200-day moving average price of $34.05. Protagonist Therapeutics has a one year low of $13.72 and a one year high of $48.00. The company has a market capitalization of $2.72 billion, a P/E ratio of 18.91 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million. As a group, equities analysts predict that Protagonist Therapeutics will post 2.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total value of $320,000.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at approximately $480,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $480,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The disclosure for this sale can be found here. Insiders have sold a total of 30,203 shares of company stock worth $1,311,891 in the last three months. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP boosted its stake in Protagonist Therapeutics by 179.8% in the first quarter. GSA Capital Partners LLP now owns 55,359 shares of the company’s stock valued at $1,602,000 after acquiring an additional 35,571 shares in the last quarter. Vanguard Group Inc. grew its stake in Protagonist Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after buying an additional 39,055 shares during the last quarter. Kynam Capital Management LP increased its position in Protagonist Therapeutics by 10.2% during the 4th quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock valued at $45,972,000 after buying an additional 186,218 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in Protagonist Therapeutics in the fourth quarter valued at about $4,606,000. Finally, Bank of New York Mellon Corp raised its stake in Protagonist Therapeutics by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock valued at $7,079,000 after buying an additional 17,065 shares during 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.