Protagonist Therapeutics (NASDAQ:PTGX) Lifted to “Hold” at StockNews.com

Protagonist Therapeutics (NASDAQ:PTGXGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday. BTIG Research cut their price target on shares of Protagonist Therapeutics from $55.00 to $45.00 in a report on Tuesday, April 26th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $52.56.

Shares of NASDAQ:PTGX opened at $8.81 on Thursday. Protagonist Therapeutics has a 12-month low of $7.87 and a 12-month high of $50.54. The company’s 50 day moving average price is $19.81 and its two-hundred day moving average price is $27.41. The firm has a market cap of $428.66 million, a PE ratio of -3.40 and a beta of 2.60.

Protagonist Therapeutics (NASDAQ:PTGXGet Rating) last issued its quarterly earnings results on Monday, February 28th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.02. The business had revenue of $8.62 million for the quarter, compared to the consensus estimate of $7.38 million. Protagonist Therapeutics had a negative return on equity of 37.22% and a negative net margin of 261.21%. Analysts forecast that Protagonist Therapeutics will post -3.26 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley boosted its holdings in Protagonist Therapeutics by 1,378.5% in the second quarter. Morgan Stanley now owns 69,830 shares of the company’s stock valued at $3,133,000 after acquiring an additional 65,107 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Protagonist Therapeutics by 589.2% in the 3rd quarter. SG Americas Securities LLC now owns 19,366 shares of the company’s stock valued at $343,000 after purchasing an additional 16,556 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Protagonist Therapeutics by 42.6% during the third quarter. Russell Investments Group Ltd. now owns 77,002 shares of the company’s stock worth $1,363,000 after buying an additional 22,998 shares during the period. Swiss National Bank raised its stake in Protagonist Therapeutics by 0.7% during the third quarter. Swiss National Bank now owns 87,400 shares of the company’s stock worth $1,549,000 after buying an additional 600 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Protagonist Therapeutics by 3.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 10,828 shares of the company’s stock valued at $192,000 after buying an additional 380 shares during the period.

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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