The Goldman Sachs Group Issues Positive Forecast for Protagonist Therapeutics (NASDAQ:PTGX) Stock Price

Protagonist Therapeutics (NASDAQ:PTGX) had its price target increased by The Goldman Sachs Group from $65.00 to $95.00 in a research report report published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

PTGX has been the subject of a number of other reports. Citigroup lifted their price objective on Protagonist Therapeutics from $98.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. HC Wainwright boosted their target price on Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Truist Financial upped their price target on Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. lifted their price objective on shares of Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Jefferies Financial Group boosted their price objective on shares of Protagonist Therapeutics from $95.00 to $118.00 and gave the company a “buy” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Protagonist Therapeutics Price Performance

PTGX opened at $91.30 on Tuesday. The firm has a 50 day simple moving average of $84.43 and a 200 day simple moving average of $77.68. Protagonist Therapeutics has a fifty-two week low of $37.63 and a fifty-two week high of $96.54. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -44.54 and a beta of 2.23.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.16). The business had revenue of $7.44 million during the quarter, compared to the consensus estimate of $14.92 million. Protagonist Therapeutics had a negative net margin of 282.83% and a negative return on equity of 19.89%. As a group, analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Buying and Selling

In other news, CFO Asif Ali sold 46,203 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $83.13, for a total transaction of $3,840,855.39. Following the completion of the transaction, the chief financial officer directly owned 60,320 shares of the company’s stock, valued at $5,014,401.60. This represents a 43.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $410,000.00. Following the completion of the sale, the insider directly owned 84,115 shares in the company, valued at approximately $6,897,430. This represents a 5.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 203,167 shares of company stock valued at $16,889,199. Corporate insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PTGX. Royal Bank of Canada increased its stake in Protagonist Therapeutics by 30.6% in the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock valued at $482,000 after buying an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Protagonist Therapeutics by 0.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after acquiring an additional 348 shares in the last quarter. Millennium Management LLC increased its position in shares of 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 acquiring an additional 99,269 shares during the last quarter. CWM LLC increased its position in shares of 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, Nisa Investment Advisors LLC raised its holdings in Protagonist Therapeutics by 37.8% during the second quarter. Nisa Investment Advisors LLC now owns 3,903 shares of the company’s stock worth $216,000 after acquiring an additional 1,071 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

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.