Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $45.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective lifted by stock analysts at JMP Securities from $42.00 to $45.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 59.18% from the company’s previous close.

PTGX has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Finally, StockNews.com raised shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Protagonist Therapeutics Stock Performance

PTGX opened at $28.27 on Wednesday. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 11.59 and a beta of 2.09. The company has a fifty day moving average of $27.85 and a 200 day moving average of $23.92. Protagonist Therapeutics has a fifty-two week low of $13.72 and a fifty-two week high of $33.34.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, February 27th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.39. The company had revenue of $60.00 million for the quarter, compared to analysts’ expectations of $60.00 million. On average, equities research analysts forecast that Protagonist Therapeutics will post 1.18 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In other news, CFO Asif Ali sold 1,234 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $25.11, for a total value of $30,985.74. Following the completion of the sale, the chief financial officer now owns 37,163 shares in the company, valued at approximately $933,162.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Dinesh V. Ph D. Patel sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $31.62, for a total value of $948,600.00. Following the completion of the sale, the chief executive officer now owns 574,590 shares in the company, valued at approximately $18,168,535.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Asif Ali sold 1,234 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $25.11, for a total transaction of $30,985.74. Following the completion of the sale, the chief financial officer now owns 37,163 shares of the company’s stock, valued at approximately $933,162.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,457 shares of company stock worth $2,553,328. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTGX. China Universal Asset Management Co. Ltd. lifted its holdings in Protagonist Therapeutics by 96.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,473 shares of the company’s stock valued at $25,000 after buying an additional 723 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Protagonist Therapeutics during the 1st quarter valued at about $35,000. Los Angeles Capital Management LLC bought a new stake in Protagonist Therapeutics during the 4th quarter valued at about $210,000. Teacher Retirement System of Texas lifted its holdings in Protagonist Therapeutics by 6.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,954 shares of the company’s stock valued at $216,000 after buying an additional 740 shares in the last quarter. Finally, Obermeyer Wood Investment Counsel Lllp lifted its holdings in Protagonist Therapeutics by 9.4% during the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 13,792 shares of the company’s stock valued at $230,000 after buying an additional 1,180 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

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.