Protagonist Therapeutics (NASDAQ:PTGX) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report sent to investors on Monday,Benzinga reports. HC Wainwright currently has a $80.00 price target on the stock.

Other equities analysts also recently issued research reports about the stock. Truist Financial raised their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Wedbush reiterated an “outperform” rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a research report on Friday, March 28th. BMO Capital Markets boosted their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. upped their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, BTIG Research set a $73.00 target price on Protagonist Therapeutics in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $65.44.

Protagonist Therapeutics Trading Up 2.4%

Shares of PTGX opened at $45.57 on Monday. The firm has a fifty day simple moving average of $46.53 and a two-hundred day simple moving average of $42.56. The firm has a market cap of $2.82 billion, a PE ratio of 17.13 and a beta of 2.65. Protagonist Therapeutics has a 1-year low of $27.00 and a 1-year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.31. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The company had revenue of $28.32 million during the quarter, compared to analyst estimates of $30.44 million. As a group, research analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the transaction, the chief executive officer now owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 24,903 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total value of $1,462,553.19. Following the transaction, the chief financial officer now owns 62,821 shares of the company’s stock, valued at approximately $3,689,477.33. The trade was a 28.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,532 shares of company stock valued at $3,665,786. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Hedge funds have recently modified their holdings of the company. Farallon Capital Management LLC increased its position in Protagonist Therapeutics by 1.2% in the fourth quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company’s stock worth $228,898,000 after purchasing an additional 69,000 shares during the last quarter. RTW Investments LP grew its stake in shares of Protagonist Therapeutics by 1.3% in the 4th quarter. RTW Investments LP now owns 5,498,545 shares of the company’s stock worth $212,244,000 after buying an additional 72,433 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Protagonist Therapeutics by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,277,218 shares of the company’s stock worth $206,846,000 after buying an additional 57,181 shares in the last quarter. BVF Inc. IL increased its holdings in shares of Protagonist Therapeutics by 35.5% in the 1st quarter. BVF Inc. IL now owns 2,575,015 shares of the company’s stock worth $124,528,000 after buying an additional 675,000 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Protagonist Therapeutics by 8.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock valued at $72,432,000 after buying an additional 142,376 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.