Protagonist Therapeutics (NASDAQ:PTGX) Hits New 52-Week High at $47.75

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) reached a new 52-week high during trading on Monday . The company traded as high as $47.75 and last traded at $47.75, with a volume of 241 shares traded. The stock had previously closed at $47.02.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PTGX. BTIG Research lifted their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. HC Wainwright upped their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $47.33.

Protagonist Therapeutics Stock Down 2.8 %

The business has a fifty day moving average of $40.20 and a 200 day moving average of $33.43. The firm has a market cap of $2.63 billion, a P/E ratio of 18.41 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last announced 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. On average, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 2.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director William D. Waddill sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction that occurred 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. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,203 shares of company stock worth $1,311,891. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics during the 1st quarter worth about $35,000. Lazard Asset Management LLC bought a new position in shares of Protagonist Therapeutics during the first quarter worth about $69,000. Point72 DIFC Ltd acquired a new stake in Protagonist Therapeutics in the 2nd quarter valued at approximately $153,000. Seven Eight Capital LP bought a new stake in Protagonist Therapeutics in the 1st quarter valued at approximately $202,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in Protagonist Therapeutics by 74.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after acquiring an additional 3,870 shares during the last quarter. 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.