Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives Average Recommendation of “Buy” from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $53.78.

A number of analysts recently weighed in on the stock. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Wedbush reissued an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. The Goldman Sachs Group began coverage on Protagonist Therapeutics in a report on Friday, December 6th. They issued a “neutral” rating and a $47.00 target price on the stock. BMO Capital Markets assumed coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $62.00 target price for the company. Finally, StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $36.67 on Wednesday. The firm’s 50 day moving average is $41.15 and its 200-day moving average is $41.67. Protagonist Therapeutics has a 12-month low of $23.17 and a 12-month high of $48.89. The stock has a market capitalization of $2.19 billion, a P/E ratio of 13.79 and a beta of 2.23.

Insider Buying and Selling

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction dated Friday, November 15th. The stock was 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. The trade was a 3.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the sale, the chief executive officer now directly owns 435,208 shares of the company’s stock, valued at $20,437,367.68. This trade represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,863 shares of company stock valued at $9,689,847. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after purchasing an additional 487 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at about $43,000. FNY Investment Advisers LLC bought a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at approximately $38,000. CWM LLC increased its holdings in Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after buying an additional 1,147 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Protagonist Therapeutics during the third quarter valued at approximately $69,000. 98.63% of the stock is currently owned by hedge funds and other 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.