Protagonist Therapeutics’ (PTGX) Buy Rating Reaffirmed at HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $54.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 38.39% from the stock’s current price.

Several other research analysts have also recently commented on PTGX. Wedbush reissued an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 21st. BMO Capital Markets started coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price objective for the company. The Goldman Sachs Group cut their target price on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.44.

Protagonist Therapeutics Stock Up 3.8 %

NASDAQ:PTGX traded up $1.43 on Monday, reaching $39.02. 968,736 shares of the company’s stock were exchanged, compared to its average volume of 630,041. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 14.67 and a beta of 2.22. Protagonist Therapeutics has a 52-week low of $24.22 and a 52-week high of $48.89. The business has a fifty day moving average of $37.94 and a 200-day moving average of $41.82.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The firm had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. As a group, equities analysts anticipate that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

Insider Activity at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the transaction, the chief executive officer now owns 540,260 shares in the company, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.40% of the stock is owned by insiders.

Institutional Trading of Protagonist Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Creative Planning acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at about $338,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $95,000 after purchasing an additional 379 shares in the last quarter. New York State Teachers Retirement System bought a new position in Protagonist Therapeutics during the 3rd quarter valued at $1,107,000. Janney Montgomery Scott LLC acquired a new position in Protagonist Therapeutics in the third quarter worth about $866,000. Finally, Amalgamated Bank increased its holdings in Protagonist Therapeutics by 756.4% in the third quarter. Amalgamated Bank now owns 17,324 shares of the company’s stock valued at $780,000 after buying an additional 15,301 shares during the last quarter. 98.63% of the stock is currently owned by hedge funds and other 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.