Protagonist Therapeutics (NASDAQ:PTGX) Upgraded at TD Cowen

Protagonist Therapeutics (NASDAQ:PTGX) was upgraded by TD Cowen to a “strong-buy” rating in a report released on Wednesday, Zacks.com reports.

PTGX has been the subject of a number of other research reports. HC Wainwright boosted their price objective on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Truist Financial started coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. BTIG Research boosted their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, JMP Securities cut their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $49.86.

Protagonist Therapeutics Stock Performance

Shares of Protagonist Therapeutics stock opened at $46.14 on Wednesday. Protagonist Therapeutics has a 1 year low of $13.72 and a 1 year high of $48.00. The firm’s 50-day simple moving average is $41.40 and its 200-day simple moving average is $34.05. The firm has a market cap of $2.72 billion, a PE ratio of 18.91 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. On average, equities analysts predict that Protagonist Therapeutics will post 2.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares in the company, valued at $540,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $540,000. The disclosure for this sale can be found here. Insiders have sold a total of 30,203 shares of company stock valued at $1,311,891 over the last three months. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. acquired a new position in Protagonist Therapeutics in the 1st quarter valued at approximately $35,000. Lazard Asset Management LLC purchased a new stake in shares of Protagonist Therapeutics during the 1st quarter worth about $69,000. Point72 DIFC Ltd acquired a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at about $153,000. Seven Eight Capital LP acquired a new stake in shares of Protagonist Therapeutics during the 1st quarter valued at about $202,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Protagonist Therapeutics by 74.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after buying an additional 3,870 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Company Profile

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.