Protagonist Therapeutics (NASDAQ:PTGX) Upgraded by The Goldman Sachs Group to “Hold” Rating

The Goldman Sachs Group upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) to a hold rating in a report released on Thursday,Zacks.com reports.

Other research analysts also recently issued reports about the company. 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 objective on the stock. BMO Capital Markets began coverage on Protagonist Therapeutics in a research note on Friday. They set an “outperform” rating and a $62.00 price target on the stock. JMP Securities dropped their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 7th. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics presently has an average rating of “Buy” and a consensus price target of $53.78.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX opened at $42.06 on Thursday. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 15.81 and a beta of 2.18. The business’s 50-day moving average is $44.76 and its 200-day moving average is $40.13. Protagonist Therapeutics has a 1 year low of $19.00 and a 1 year high of $48.89.

Insiders Place Their Bets

In other news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.96, for a total value of $3,687,299.20. Following the completion of the transaction, the chief executive officer now directly owns 435,208 shares of the company’s stock, valued at $20,437,367.68. This represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Arturo Md Molina sold 1,906 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the transaction, the insider now directly owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. This represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,066 shares of company stock valued at $10,681,738. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors have recently modified their holdings of the business. Farallon Capital Management LLC lifted its stake in Protagonist Therapeutics by 1.8% in the second quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock valued at $202,383,000 after purchasing an additional 101,800 shares during the last quarter. RTW Investments LP lifted its stake in Protagonist Therapeutics by 2.6% in the third quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock valued at $244,175,000 after purchasing an additional 139,708 shares during the last quarter. State Street Corp lifted its stake in Protagonist Therapeutics by 52.9% in the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after purchasing an additional 1,101,218 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Protagonist Therapeutics by 405,061.2% in the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock valued at $78,034,000 after purchasing an additional 1,733,662 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Protagonist Therapeutics by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company’s stock valued at $61,873,000 after purchasing an additional 3,528 shares during the last quarter. 98.63% of the stock is owned by 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.