Protagonist Therapeutics (NASDAQ:PTGX) Given Buy Rating at BTIG Research

BTIG Research restated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note published on Tuesday morning,Benzinga reports. The firm currently has a $82.00 target price on the stock.

A number of other research analysts have also weighed in on the company. BMO Capital Markets restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Monday, October 13th. JMP Securities lifted their target price on Protagonist Therapeutics from $67.00 to $69.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Citigroup upped their target price on shares of Protagonist Therapeutics from $72.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Leerink Partnrs upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Protagonist Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $77.08.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX opened at $78.51 on Tuesday. The company has a 50-day moving average price of $65.33 and a 200-day moving average price of $55.75. The stock has a market capitalization of $4.88 billion, a P/E ratio of 112.16 and a beta of 2.20. Protagonist Therapeutics has a 1 year low of $33.31 and a 1 year high of $93.25.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). The business had revenue of $5.55 million during 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%. As a group, equities research analysts anticipate that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William D. Waddill sold 12,000 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $81.62, for a total transaction of $979,440.00. Following the transaction, the director directly owned 5,130 shares in the company, valued at approximately $418,710.60. The trade was a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 20,000 shares of company stock worth $1,473,440 in the last 90 days. 4.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new position in Protagonist Therapeutics in the second quarter valued at about $27,000. Bessemer Group Inc. boosted its stake in Protagonist Therapeutics by 171.0% in the second quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Protagonist Therapeutics in the third quarter valued at about $29,000. CWM LLC boosted its stake in Protagonist Therapeutics by 201.5% in the second quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after acquiring an additional 407 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Protagonist Therapeutics by 153.3% in the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company’s stock valued at $58,000 after acquiring an additional 728 shares during the last quarter. 98.63% of the stock is currently 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.