Protagonist Therapeutics (NASDAQ:PTGX) Sets New 52-Week High at $34.34

Protagonist Therapeutics, Inc. (NASDAQ:PTGXGet Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $34.34 and last traded at $34.34, with a volume of 30222 shares trading hands. The stock had previously closed at $34.03.

Analysts Set New Price Targets

PTGX has been the topic of several recent analyst reports. StockNews.com upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Protagonist Therapeutics in a research note on Thursday, May 9th. Finally, JMP Securities raised their target price on Protagonist Therapeutics from $42.00 to $45.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

View Our Latest Research Report on Protagonist Therapeutics

Protagonist Therapeutics Trading Up 2.3 %

The business’s 50-day simple moving average is $28.32 and its 200-day simple moving average is $26.13. The company has a market cap of $2.04 billion, a PE ratio of 14.26 and a beta of 2.12.

Protagonist Therapeutics (NASDAQ:PTGXGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.75. The firm had revenue of $254.95 million for the quarter, compared to analysts’ expectations of $300.00 million. On average, research analysts predict that Protagonist Therapeutics, Inc. will post 1.67 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, CFO Asif Ali sold 1,234 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $25.11, for a total transaction of $30,985.74. Following the transaction, the chief financial officer now owns 37,163 shares of the company’s stock, valued at $933,162.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Dinesh V. Ph D. Patel sold 25,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $28.31, for a total transaction of $707,750.00. Following the completion of the sale, the chief executive officer now owns 549,590 shares in the company, valued at approximately $15,558,892.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Asif Ali sold 1,234 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 37,163 shares in the company, valued at $933,162.93. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in shares of Protagonist Therapeutics during the 1st quarter worth $35,000. Lazard Asset Management LLC bought a new stake in Protagonist Therapeutics during the first quarter valued at about $69,000. China Universal Asset Management Co. Ltd. grew its position in shares of Protagonist Therapeutics by 353.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,675 shares of the company’s stock valued at $153,000 after purchasing an additional 5,202 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Protagonist Therapeutics in the first quarter worth about $202,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Protagonist Therapeutics during the 4th quarter worth about $210,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

About Protagonist Therapeutics

(Get Free Report)

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.

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