Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $93.3846.

A number of equities analysts have recently commented on PTGX shares. JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $68.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Citigroup raised their price target on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a report on Monday, December 8th. Truist Financial boosted their price target on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Barclays upped their price target on shares of Protagonist Therapeutics from $88.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Finally, Wedbush lifted their price objective on Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th.

Insider Transactions at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 4,068 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $83.19, for a total transaction of $338,416.92. Following the completion of the transaction, the chief executive officer owned 574,505 shares of the company’s stock, valued at approximately $47,793,070.95. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arturo Md Molina sold 5,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $82.00, for a total transaction of $410,000.00. Following the sale, the insider owned 84,115 shares of the company’s stock, valued at approximately $6,897,430. The trade was a 5.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 203,167 shares of company stock worth $16,889,199. 4.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in Protagonist Therapeutics by 30.6% during the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock valued at $482,000 after acquiring an additional 2,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Protagonist Therapeutics by 0.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after purchasing an additional 348 shares during the last quarter. Millennium Management LLC lifted its position in Protagonist Therapeutics by 283.6% in the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after purchasing an additional 99,269 shares during the last quarter. CWM LLC boosted its stake in shares of Protagonist Therapeutics by 201.5% during the second quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after purchasing an additional 407 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in shares of Protagonist Therapeutics by 18.9% in the second quarter. New York State Teachers Retirement System now owns 55,713 shares of the company’s stock worth $3,079,000 after purchasing an additional 8,858 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Stock Up 0.6%

Shares of NASDAQ PTGX opened at $82.99 on Thursday. The company has a market cap of $5.19 billion, a P/E ratio of 133.86 and a beta of 2.26. Protagonist Therapeutics has a 52 week low of $33.70 and a 52 week high of $96.54. The business has a 50-day simple moving average of $84.80 and a two-hundred day simple moving average of $75.37.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.