Protagonist Therapeutics (NASDAQ:PTGX) Research Coverage Started at Barclays

Barclays assumed coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report report published on Tuesday morning, MarketBeat.com reports. The firm issued an overweight rating and a $72.00 target price on the stock.

A number of other brokerages have also recently issued reports on PTGX. Leerink Partners began coverage on Protagonist Therapeutics in a research note on Friday, September 12th. They set an “outperform” rating and a $73.00 price objective on the stock. Wall Street Zen upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. Leerink Partnrs upgraded Protagonist Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. Citigroup reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Thursday, August 7th. Finally, JMP Securities upped their price objective on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $68.08.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $62.14 on Tuesday. Protagonist Therapeutics has a 52 week low of $33.31 and a 52 week high of $62.21. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 88.77 and a beta of 2.22. The stock’s 50 day moving average price is $56.37 and its two-hundred day moving average price is $51.29.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%.The company had revenue of $5.55 million for the quarter, compared to the consensus estimate of $8.32 million. On average, equities research analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $54.78, for a total value of $570,533.70. Following the transaction, the chief executive officer directly owned 520,603 shares of the company’s stock, valued at $28,518,632.34. This represents a 1.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William D. Waddill sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $59.25, for a total value of $237,000.00. Following the completion of the transaction, the director directly owned 9,130 shares in the company, valued at approximately $540,952.50. This represents a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,859 shares of company stock worth $3,687,577. 4.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Protagonist Therapeutics in the 2nd quarter valued at $27,000. Bessemer Group Inc. grew its holdings in Protagonist Therapeutics by 171.0% in the 2nd quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock valued at $28,000 after buying an additional 318 shares in the last quarter. CWM LLC grew its holdings in Protagonist Therapeutics by 201.5% in the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after buying an additional 407 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Protagonist Therapeutics by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock valued at $65,000 after buying an additional 525 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Protagonist Therapeutics by 153.3% in the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company’s stock valued at $58,000 after buying an additional 728 shares in the last quarter. 98.63% of the stock is 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.