Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $49.86 Consensus PT from Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has earned a consensus recommendation of “Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $49.86.

Several analysts recently weighed in on the stock. JMP Securities cut their price objective 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. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective on the stock. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $45.08 on Monday. The firm’s 50-day moving average is $42.89 and its 200-day moving average is $35.41. Protagonist Therapeutics has a 1 year low of $13.72 and a 1 year high of $48.00. The company has a market cap of $2.64 billion, a P/E ratio of 18.48 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $4.17 million during the quarter, compared to the consensus estimate of $40.00 million. As a group, sell-side analysts predict that Protagonist Therapeutics will post 2.32 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In other news, 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 value of $631,891.47. Following the transaction, the chief financial officer now owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 $540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,203 shares of company stock valued at $1,311,891 in the last quarter. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PTGX. GAMMA Investing LLC boosted its holdings in shares of Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after purchasing an additional 487 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Protagonist Therapeutics by 2.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 34,895 shares of the company’s stock worth $1,010,000 after purchasing an additional 849 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Protagonist Therapeutics during the third quarter worth approximately $43,000. CWM LLC boosted its holdings in shares of Protagonist Therapeutics by 910.3% during the third quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after purchasing an additional 1,147 shares during the period. Finally, ProShare Advisors LLC lifted its stake in Protagonist Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock valued at $415,000 after acquiring an additional 1,206 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.