Protagonist Therapeutics’ (PTGX) “Outperform” Rating Reaffirmed at Wedbush

Protagonist Therapeutics (NASDAQ:PTGX)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a note issued to investors on Friday,Benzinga reports. They presently have a $70.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 41.18% from the stock’s current price.

PTGX has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $54.00 target price on shares of Protagonist Therapeutics in a research note on Monday, March 10th. The Goldman Sachs Group dropped their price objective on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. BTIG Research set a $73.00 target price on shares of Protagonist Therapeutics in a report on Monday, March 3rd. BMO Capital Markets raised their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. boosted their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.56.

Protagonist Therapeutics Trading Up 0.3 %

Shares of PTGX stock opened at $49.58 on Friday. The stock has a 50 day moving average of $42.30 and a two-hundred day moving average of $42.87. Protagonist Therapeutics has a 12 month low of $24.22 and a 12 month high of $60.60. The company has a market capitalization of $3.04 billion, a P/E ratio of 18.61 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. The business had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Sell-side analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, Director William D. Waddill sold 4,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the completion of the sale, the director now owns 13,130 shares of the company’s stock, valued at approximately $712,302.50. This trade represents a 23.35 % 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, CFO Asif Ali sold 24,903 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the transaction, the chief financial officer now directly owns 62,821 shares in the company, valued at $3,689,477.33. The trade was a 28.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,776 shares of company stock worth $3,585,010 over the last ninety days. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in PTGX. FNY Investment Advisers LLC acquired a new stake in Protagonist Therapeutics in the 4th quarter valued at about $38,000. GF Fund Management CO. LTD. acquired a new stake in Protagonist Therapeutics in the 4th quarter valued at about $48,000. Covestor Ltd lifted its holdings in Protagonist Therapeutics by 5,200.0% in the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock valued at $63,000 after buying an additional 1,612 shares during the period. KBC Group NV raised its stake in Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after buying an additional 737 shares during the period. Finally, New Vernon Capital Holdings II LLC bought a new position in Protagonist Therapeutics during the 4th quarter worth about $118,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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.