Protagonist Therapeutics (NASDAQ:PTGX) Reaches New 1-Year High at $44.05

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $44.05 and last traded at $44.05, with a volume of 208417 shares traded. The stock had previously closed at $41.50.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. BTIG Research raised their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JMP Securities lowered 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 research report on Wednesday, August 7th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Truist Financial started coverage on Protagonist Therapeutics in a research note on Monday. They set a “buy” rating and a $60.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $45.67.

Protagonist Therapeutics Stock Performance

The company has a market capitalization of $2.62 billion, a P/E ratio of 18.05 and a beta of 2.17. The firm’s fifty day moving average is $38.68 and its 200 day moving average is $32.66.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The business had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million. On average, analysts forecast that Protagonist Therapeutics, Inc. will post 2.07 EPS for the current year.

Insiders Place Their Bets

In related news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PTGX. Hennion & Walsh Asset Management Inc. increased its holdings in Protagonist Therapeutics by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 34,895 shares of the company’s stock worth $1,010,000 after purchasing an additional 849 shares during the period. ProShare Advisors LLC grew its position in shares of Protagonist Therapeutics by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock worth $415,000 after buying an additional 1,206 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Protagonist Therapeutics during the 1st quarter worth $35,000. Lazard Asset Management LLC purchased a new position in shares of Protagonist Therapeutics during the first quarter valued at $69,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Protagonist Therapeutics by 74.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock valued at $263,000 after acquiring an additional 3,870 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

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.