JMP Securities Cuts Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $43.00

Protagonist Therapeutics (NASDAQ:PTGX) had its target price cut by JMP Securities from $45.00 to $43.00 in a research report report published on Wednesday, Benzinga reports. They currently have a market outperform rating on the stock.

Several other research analysts have also commented on the stock. HC Wainwright restated a buy rating and set a $38.00 price target on shares of Protagonist Therapeutics in a research note on Friday, June 14th. JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. Finally, BTIG Research raised their target price on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $42.80.

Protagonist Therapeutics Stock Up 4.1 %

NASDAQ PTGX traded up $1.54 on Wednesday, hitting $38.72. The stock had a trading volume of 1,063,510 shares, compared to its average volume of 726,165. The company’s 50-day moving average is $35.11 and its two-hundred day moving average is $30.47. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 15.87 and a beta of 2.13. Protagonist Therapeutics has a one year low of $13.72 and a one year high of $42.67.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million. On average, sell-side analysts anticipate that Protagonist Therapeutics will post 2.24 earnings per share for the current year.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the completion of the transaction, the chief executive officer now owns 515,415 shares in the company, valued at $18,137,453.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total transaction of $320,000.00. Following the sale, the director now directly owns 12,000 shares of the company’s stock, valued at $480,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the completion of the transaction, the chief executive officer now owns 515,415 shares in the company, valued at $18,137,453.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,000 shares of company stock worth $1,831,650. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. grew its stake in shares of Protagonist Therapeutics by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 34,895 shares of the company’s stock valued at $1,010,000 after acquiring an additional 849 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Protagonist Therapeutics by 11.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,338 shares of the company’s stock worth $237,000 after purchasing an additional 1,093 shares during the period. ProShare Advisors LLC lifted its position in Protagonist Therapeutics by 9.2% during the first quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock worth $415,000 after purchasing an additional 1,206 shares during the period. Russell Investments Group Ltd. bought a new stake in Protagonist Therapeutics during the first quarter worth about $35,000. Finally, Lazard Asset Management LLC bought a new stake in Protagonist Therapeutics during the first quarter worth about $69,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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.