Protagonist Therapeutics’ (PTGX) “Buy” Rating Reaffirmed at BTIG Research

Protagonist Therapeutics (NASDAQ:PTGXGet Rating)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a report issued on Thursday, TipRanks reports. They presently have a $55.00 target price on the stock. BTIG Research’s price objective indicates a potential upside of 175.69% from the company’s current price.

PTGX has been the topic of several other reports. Zacks Investment Research upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, February 15th. StockNews.com started coverage on shares of Protagonist Therapeutics in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $59.13.

NASDAQ PTGX opened at $19.95 on Thursday. Protagonist Therapeutics has a one year low of $12.80 and a one year high of $50.54. The company has a 50-day simple moving average of $25.29 and a 200-day simple moving average of $29.33. The firm has a market capitalization of $965.78 million, a PE ratio of -7.39 and a beta of 2.28.

Protagonist Therapeutics (NASDAQ:PTGXGet Rating) last issued its quarterly earnings data on Sunday, February 27th. The company reported ($0.77) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.78) by $0.01. Protagonist Therapeutics had a negative net margin of 458.94% and a negative return on equity of 40.29%. Equities research analysts expect that Protagonist Therapeutics will post -3.43 earnings per share for the current year.

Several large investors have recently modified their holdings of PTGX. Point72 Asset Management L.P. lifted its stake in shares of Protagonist Therapeutics by 279.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,387,300 shares of the company’s stock worth $77,743,000 after acquiring an additional 3,232,100 shares during the period. Johnson & Johnson bought a new stake in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $43,400,000. Artal Group S.A. bought a new stake in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $26,580,000. EcoR1 Capital LLC bought a new stake in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $25,584,000. Finally, State Street Corp raised its holdings in shares of Protagonist Therapeutics by 27.7% in the 4th quarter. State Street Corp now owns 2,571,570 shares of the company’s stock worth $87,948,000 after purchasing an additional 557,591 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Protagonist Therapeutics Company Profile (Get Rating)

Protagonist Therapeutics, Inc, a biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing rusfertide (PTG-300), an injectable hepcidin mimetic that is in Phase II clinical trials for the treatment of patients with polycythemia vera and hereditary hemochromatosis, as well as for the treatment of other blood disorders; PN-943, an oral, alpha-4-beta-7 integrin- specific antagonist peptide that is in Phase II clinical trials for treating inflammatory bowel disease (IBD); and PN-235, an orally delivered interleukin-23 receptor specific antagonist for the treatment of IBD and non-IBD indications.

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Analyst Recommendations for Protagonist Therapeutics (NASDAQ:PTGX)

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