HC Wainwright Increases Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $50.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price target increased by HC Wainwright from $40.00 to $50.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. 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 target for the company. StockNews.com upgraded Protagonist Therapeutics from a hold rating to a buy rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased 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. JMP Securities reduced their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a market outperform rating for the company in a research report on Wednesday, August 7th. Finally, BTIG Research upped their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $47.33.

Protagonist Therapeutics Stock Up 3.0 %

Shares of NASDAQ PTGX opened at $47.02 on Thursday. Protagonist Therapeutics has a twelve month low of $13.72 and a twelve month high of $47.15. The firm has a market cap of $2.77 billion, a PE ratio of 19.27 and a beta of 2.17. The business has a fifty day simple moving average of $39.76 and a two-hundred day simple moving average of $33.23.

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

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $480,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total transaction of $320,000.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $480,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,203 shares of company stock valued at $1,311,891. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. boosted its position in Protagonist Therapeutics by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 34,895 shares of the company’s stock valued at $1,010,000 after buying an additional 849 shares during the last quarter. ProShare Advisors LLC lifted its stake in Protagonist Therapeutics by 9.2% during the 1st 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 period. Russell Investments Group Ltd. purchased a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at $35,000. Lazard Asset Management LLC purchased a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at $69,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Protagonist Therapeutics by 74.2% in the first 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 period. 98.63% of the stock is currently 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.