Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Consensus Recommendation of “Buy” by Brokerages

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has earned a consensus recommendation of “Buy” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $42.80.

A number of equities research analysts have commented on the company. HC Wainwright upped their price target on Protagonist Therapeutics from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. JMP Securities reduced their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. BTIG Research upped their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th.

Protagonist Therapeutics Trading Up 0.6 %

NASDAQ PTGX opened at $41.68 on Friday. The business’s 50-day moving average price is $36.71 and its two-hundred day moving average price is $31.58. Protagonist Therapeutics has a 12 month low of $13.72 and a 12 month high of $42.67. The firm has a market capitalization of $2.45 billion, a PE ratio of 17.08 and a beta of 2.13.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million during the quarter, compared to the consensus estimate of $40.00 million. As a group, analysts forecast that Protagonist Therapeutics will post 2.07 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $35.00, for a total transaction of $280,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $420,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the transaction, the chief executive officer now directly owns 515,415 shares of the company’s stock, valued at approximately $18,137,453.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $35.00, for a total value of $280,000.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at $420,000. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock worth $1,831,650 in the last 90 days. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in shares of Protagonist Therapeutics in the first quarter worth approximately $35,000. Lazard Asset Management LLC purchased a new stake in shares of Protagonist Therapeutics in the first quarter worth approximately $69,000. Point72 DIFC Ltd purchased a new stake in shares of Protagonist Therapeutics in the second quarter worth approximately $153,000. Seven Eight Capital LP purchased a new stake in shares of Protagonist Therapeutics in the first quarter worth approximately $202,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter worth approximately $210,000. 98.63% of the stock is 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.