Protagonist Therapeutics (NASDAQ:PTGX) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $50.00 price objective on the stock. HC Wainwright also issued estimates for Protagonist Therapeutics’ Q4 2024 earnings at ($0.41) EPS, FY2024 earnings at $1.82 EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.53) EPS, Q4 2025 earnings at $0.87 EPS, FY2025 earnings at ($0.38) EPS, FY2026 earnings at ($1.55) EPS, FY2027 earnings at ($0.41) EPS and FY2028 earnings at $2.81 EPS.

Several other research firms have also issued reports on PTGX. JMP Securities reduced their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. BTIG Research boosted their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Truist Financial began coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $53.57.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $41.04 on Monday. Protagonist Therapeutics has a 1 year low of $15.58 and a 1 year high of $48.89. The firm has a fifty day moving average price of $45.66 and a 200-day moving average price of $38.49. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 15.43 and a beta of 2.17.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. This represents a 40.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTGX. Vanguard Group Inc. raised its stake in shares of Protagonist Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after buying an additional 39,055 shares during the last quarter. Seven Eight Capital LP lifted its holdings in Protagonist Therapeutics by 426.9% in the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after acquiring an additional 29,810 shares during the period. Bank of New York Mellon Corp boosted its position in Protagonist Therapeutics by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock worth $7,079,000 after purchasing an additional 17,065 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $1,107,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Protagonist Therapeutics during the 2nd quarter valued at approximately $2,112,000. 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.