Protagonist Therapeutics (NASDAQ:PTGX) Given New $53.00 Price Target at JPMorgan Chase & Co.

Protagonist Therapeutics (NASDAQ:PTGX) had its price target upped by JPMorgan Chase & Co. from $51.00 to $53.00 in a research note issued to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

PTGX has been the subject of a number of other research reports. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, December 10th. BMO Capital Markets assumed coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 price objective for the company. The Goldman Sachs Group assumed coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They set a “neutral” rating and a $47.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.33.

Protagonist Therapeutics Stock Down 2.0 %

PTGX opened at $37.75 on Tuesday. The stock has a market cap of $2.25 billion, a PE ratio of 14.19 and a beta of 2.22. The business has a 50 day moving average of $39.24 and a 200-day moving average of $41.89. Protagonist Therapeutics has a 52 week low of $24.22 and a 52 week high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Thursday, November 7th. The company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.05. The company had revenue of $4.68 million during the quarter, compared to analysts’ expectations of $4.50 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Equities analysts anticipate that Protagonist Therapeutics will post 2.28 EPS for the current year.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the sale, the chief executive officer now owns 435,208 shares of the company’s stock, valued at approximately $20,437,367.68. The trade was a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the sale, the insider now directly owns 46,444 shares of the company’s stock, valued at $2,076,046.80. This represents a 35.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 209,863 shares of company stock worth $9,689,847 over the last quarter. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Large investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in shares of Protagonist Therapeutics by 127.2% in the third quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after acquiring an additional 45,674 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Protagonist Therapeutics in the third quarter worth about $1,107,000. Swedbank AB purchased a new stake in shares of Protagonist Therapeutics in the third quarter worth about $2,250,000. Charles Schwab Investment Management Inc. lifted its position in shares of Protagonist Therapeutics by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock worth $25,448,000 after buying an additional 39,850 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock worth $14,437,000 after buying an additional 310,804 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.