Protagonist Therapeutics (NASDAQ:PTGX) Now Covered by Analysts at TD Cowen

TD Cowen initiated coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note released on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $65.00 target price on the stock.

Several other research firms also recently commented on PTGX. JPMorgan Chase & Co. upped their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an overweight rating in a research report on Thursday, July 25th. HC Wainwright boosted their target price on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, September 12th. BTIG Research upped their price target on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a buy rating in a research report on Wednesday, July 24th. JMP Securities dropped their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a market outperform rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded Protagonist Therapeutics from a hold rating to a buy rating in a report on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $49.86.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $44.56 on Tuesday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 18.26 and a beta of 2.17. Protagonist Therapeutics has a 52 week low of $13.72 and a 52 week high of $48.00. The stock’s 50 day moving average price is $41.58 and its two-hundred day moving average price is $34.13.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. On average, equities research analysts forecast that Protagonist Therapeutics will post 2.31 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now owns 12,000 shares in the company, valued at $540,000. The disclosure for this sale can be found here. In the last three months, insiders sold 30,203 shares of company stock valued at $1,311,891. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Protagonist Therapeutics in the first quarter worth $35,000. Lazard Asset Management LLC bought a new stake in Protagonist Therapeutics during the first quarter worth about $69,000. Point72 DIFC Ltd purchased a new position in shares of Protagonist Therapeutics in the 2nd quarter worth about $153,000. Seven Eight Capital LP purchased a new position in shares of Protagonist Therapeutics during the first quarter worth approximately $202,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Protagonist Therapeutics by 74.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after acquiring an additional 3,870 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

About Protagonist Therapeutics

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.