Protagonist Therapeutics’ (PTGX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report issued on Tuesday,Benzinga reports. The brokerage 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 target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. raised their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. JMP Securities reaffirmed a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. The Goldman Sachs Group dropped their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $70.00 price target on shares of Protagonist Therapeutics in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.44.

Protagonist Therapeutics Trading Up 1.8%

Shares of Protagonist Therapeutics stock opened at $51.06 on Tuesday. The company has a 50 day moving average of $45.29 and a 200-day moving average of $42.74. Protagonist Therapeutics has a 1-year low of $28.96 and a 1-year high of $60.60. The company has a market cap of $3.16 billion, a PE ratio of 19.20 and a beta of 2.65.

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

Insider Transactions at Protagonist Therapeutics

In other news, insider Arturo Md Molina sold 30,514 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the completion of the sale, the insider now directly owns 83,892 shares in the company, valued at $4,676,140.08. This represents a 26.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Asif Ali sold 1,756 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the sale, the chief financial officer now owns 61,065 shares of the company’s stock, valued at approximately $2,808,990. This trade represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,173 shares of company stock worth $3,461,180 over the last three months. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several large investors have recently modified their holdings of the company. Farallon Capital Management LLC grew its holdings 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 period. RTW Investments LP grew its holdings in Protagonist Therapeutics by 1.3% in the fourth quarter. RTW Investments LP now owns 5,498,545 shares of the company’s stock worth $212,244,000 after purchasing an additional 72,433 shares during the period. Vanguard Group Inc. grew its holdings in Protagonist Therapeutics by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,277,218 shares of the company’s stock worth $206,846,000 after purchasing an additional 57,181 shares during the period. BVF Inc. IL grew its holdings in Protagonist Therapeutics by 35.5% in the first quarter. BVF Inc. IL now owns 2,575,015 shares of the company’s stock worth $124,528,000 after purchasing an additional 675,000 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Protagonist Therapeutics by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,392,652 shares of the company’s stock worth $53,758,000 after purchasing an additional 83,185 shares during the period. 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.