Wedbush Expects Higher Earnings for Protagonist Therapeutics

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) – Analysts at Wedbush lifted their Q1 2025 earnings per share estimates for shares of Protagonist Therapeutics in a research note issued to investors on Tuesday, November 19th. Wedbush analyst Y. Zhong now anticipates that the company will earn $1.92 per share for the quarter, up from their prior estimate of ($0.64). Wedbush currently has a “Outperform” rating and a $58.00 target price on the stock. The consensus estimate for Protagonist Therapeutics’ current full-year earnings is $2.28 per share. Wedbush also issued estimates for Protagonist Therapeutics’ FY2025 earnings at ($0.16) EPS.

PTGX has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Truist Financial initiated coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective on the stock. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday. Finally, TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.57.

Protagonist Therapeutics Stock Up 5.2 %

PTGX stock opened at $40.65 on Thursday. Protagonist Therapeutics has a twelve month low of $16.80 and a twelve month high of $48.89. The firm has a market cap of $2.42 billion, a PE ratio of 15.28 and a beta of 2.17. The business has a 50 day moving average of $45.43 and a 200 day moving average of $38.99.

Insiders Place Their Bets

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 1,906 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the transaction, the insider now owns 46,444 shares of the company’s stock, valued at $1,903,275.12. This trade represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,109 shares of company stock worth $1,069,999. 5.40% of the stock is owned by company insiders.

Institutional Trading of Protagonist Therapeutics

Several hedge funds have recently bought and sold shares of PTGX. Pacer Advisors Inc. increased its position in shares of Protagonist Therapeutics by 405,061.2% in the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after acquiring an additional 1,733,662 shares in the last quarter. State Street Corp increased its position in shares of Protagonist Therapeutics by 52.9% during the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after purchasing an additional 1,101,218 shares in the last quarter. Millennium Management LLC increased its position in Protagonist Therapeutics by 2,135.6% in the 2nd quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock valued at $33,205,000 after acquiring an additional 915,418 shares in the last quarter. Perceptive Advisors LLC boosted its stake in Protagonist Therapeutics by 27.6% during the 2nd quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after acquiring an additional 274,412 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Protagonist Therapeutics by 813.4% in the second quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock valued at $10,307,000 after buying an additional 264,900 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors.

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.