Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $45.67 Average PT from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $47.33.

PTGX has been the topic of several research reports. BTIG Research raised their price target on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Truist Financial began coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, HC Wainwright increased their price objective on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, September 12th.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at $540,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at $540,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the sale, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,203 shares of company stock valued at $1,311,891. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new stake in Protagonist Therapeutics in the first quarter valued at $35,000. Lazard Asset Management LLC purchased a new position in Protagonist Therapeutics during the 1st quarter valued at about $69,000. Point72 DIFC Ltd acquired a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at about $153,000. Seven Eight Capital LP acquired a new stake in shares of Protagonist Therapeutics during the 1st quarter valued at about $202,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Protagonist Therapeutics by 74.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after purchasing an additional 3,870 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $44.77 on Thursday. The firm has a market cap of $2.63 billion, a P/E ratio of 18.35 and a beta of 2.17. Protagonist Therapeutics has a 1-year low of $13.72 and a 1-year high of $48.00. The firm’s 50-day simple moving average is $40.40 and its 200-day simple moving average is $33.51.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The company had revenue of $4.17 million for the quarter, compared to analysts’ expectations of $40.00 million. Analysts expect that Protagonist Therapeutics will post 2.31 earnings per share for the current fiscal year.

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.