Protagonist Therapeutics (NASDAQ:PTGX) Trading Up 3.9% Following Analyst Upgrade

Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Get Rating)’s share price rose 3.9% during trading on Thursday after JMP Securities raised their price target on the stock from $21.00 to $31.00. JMP Securities currently has a market outperform rating on the stock. Protagonist Therapeutics traded as high as $25.32 and last traded at $25.05. Approximately 243,988 shares changed hands during trading, a decline of 85% from the average daily volume of 1,628,837 shares. The stock had previously closed at $24.11.

Other analysts have also recently issued research reports about the stock. HC Wainwright lowered their price objective on shares of Protagonist Therapeutics from $50.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, November 10th. BTIG Research reduced their target price on shares of Protagonist Therapeutics to $41.00 in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake in shares of Protagonist Therapeutics by 8.4% during the 4th quarter. Legal & General Group Plc now owns 14,408 shares of the company’s stock worth $157,000 after buying an additional 1,118 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Protagonist Therapeutics by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 139,769 shares of the company’s stock worth $3,310,000 after buying an additional 1,275 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Protagonist Therapeutics by 18.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,536 shares of the company’s stock worth $93,000 after buying an additional 1,337 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Protagonist Therapeutics by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,687 shares of the company’s stock worth $98,000 after buying an additional 1,375 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Protagonist Therapeutics by 13.4% during the 4th quarter. Principal Financial Group Inc. now owns 11,738 shares of the company’s stock worth $128,000 after buying an additional 1,389 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Trading Up 0.7 %

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -9.06 and a beta of 2.01. The stock’s 50 day moving average price is $14.54 and its 200 day moving average price is $10.61.

Protagonist Therapeutics Company Profile

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Protagonist Therapeutics, Inc a clinical-stage biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address unmet medical needs. Its product pipeline include PTG-300, PTG-200, and PN-943 The company was founded by Mark L. Smythe on August 22, 2006 and is headquartered in Newark, CA.