Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $68.08 Average Target Price from Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has earned a consensus recommendation of “Buy” from the eleven brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $68.3636.

Several analysts have issued reports on the company. Citigroup reissued an “outperform” rating on shares of Protagonist Therapeutics in a research note on Thursday, August 7th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday, September 17th. Barclays assumed coverage on Protagonist Therapeutics in a research note on Wednesday, September 17th. They issued an “overweight” rating and a $72.00 target price on the stock. Leerink Partnrs raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. Finally, Wall Street Zen upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, June 8th.

Protagonist Therapeutics Stock Up 1.4%

Protagonist Therapeutics stock opened at $65.95 on Monday. The company has a 50 day moving average of $57.12 and a 200-day moving average of $52.00. Protagonist Therapeutics has a twelve month low of $33.31 and a twelve month high of $66.70. The stock has a market capitalization of $4.10 billion, a PE ratio of 94.22 and a beta of 2.22.

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

Insider Buying and Selling at Protagonist Therapeutics

In related news, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $64.25, for a total value of $257,000.00. Following the sale, the director owned 5,130 shares of the company’s stock, valued at approximately $329,602.50. The trade was a 43.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 10,415 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $54.78, for a total value of $570,533.70. Following the sale, the chief executive officer owned 520,603 shares in the company, valued at $28,518,632.34. The trade was a 1.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,859 shares of company stock worth $3,944,577 over the last quarter. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp bought a new stake in shares of Protagonist Therapeutics during the 2nd quarter worth approximately $519,000. Osaic Holdings Inc. increased its holdings in Protagonist Therapeutics by 79.5% during the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after buying an additional 525 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Protagonist Therapeutics by 4.1% during the second quarter. Thrivent Financial for Lutherans now owns 45,576 shares of the company’s stock worth $2,519,000 after buying an additional 1,800 shares during the last quarter. State of Wyoming raised its position in Protagonist Therapeutics by 173.5% during the second quarter. State of Wyoming now owns 3,985 shares of the company’s stock worth $220,000 after acquiring an additional 2,528 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Protagonist Therapeutics by 11.8% in the second quarter. Public Sector Pension Investment Board now owns 211,281 shares of the company’s stock valued at $11,678,000 after acquiring an additional 22,250 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

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.