Protagonist Therapeutics (NASDAQ:PTGX – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, “Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a proprietary technology platform focused on discovering and developing peptide-based new chemical entities to address significant unmet medical needs. The Company’s initial lead product candidates consists of PTG-100 and PTG-200, which have the potential to transform the existing treatment paradigm for inflammatory bowel disease, a GI disease consisting primarily of ulcerative colitis and Crohn’s disease; PTG-300, an injectable hepcidin mimetic. Protagonist Therapeutics, Inc. is based in Milpitas, United States. “
A number of other equities analysts also recently commented on PTGX. BTIG Research decreased their price target on Protagonist Therapeutics from $55.00 to $45.00 in a research note on Tuesday, April 26th. StockNews.com assumed coverage on Protagonist Therapeutics in a research report on Thursday, March 31st. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $52.56.
Protagonist Therapeutics (NASDAQ:PTGX – Get Rating) last posted its quarterly earnings results on Monday, February 28th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.02. The firm had revenue of $8.62 million for the quarter, compared to analysts’ expectations of $7.38 million. Protagonist Therapeutics had a negative net margin of 261.21% and a negative return on equity of 37.22%. Equities research analysts anticipate that Protagonist Therapeutics will post -3.36 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of PTGX. CENTRAL TRUST Co bought a new stake in Protagonist Therapeutics in the 4th quarter valued at about $56,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Protagonist Therapeutics during the fourth quarter worth approximately $75,000. Royal Bank of Canada raised its stake in Protagonist Therapeutics by 43.7% during the 3rd quarter. Royal Bank of Canada now owns 4,785 shares of the company’s stock valued at $85,000 after acquiring an additional 1,455 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Protagonist Therapeutics by 400.1% in the third quarter. BNP Paribas Arbitrage SA now owns 8,007 shares of the company’s stock worth $142,000 after purchasing an additional 6,406 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Protagonist Therapeutics by 14.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,199 shares of the company’s stock valued at $170,000 after purchasing an additional 906 shares during the period.
About Protagonist Therapeutics (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.
- Get a free copy of the StockNews.com research report on Protagonist Therapeutics (PTGX)
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