Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives Average Recommendation of “Buy” from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $53.78.

A number of research analysts have recently weighed in on PTGX shares. Wedbush restated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, December 10th. Finally, Truist Financial assumed coverage on Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company.

Insiders Place Their Bets

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 46,444 shares in the company, valued at $1,903,275.12. This trade represents a 3.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Suneel Gupta sold 103,437 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the transaction, the insider now directly owns 256,174 shares of the company’s stock, valued at $11,794,250.96. This represents a 28.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,863 shares of company stock valued at $9,689,847 in the last three months. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after purchasing an additional 487 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Protagonist Therapeutics in the 3rd quarter valued at $43,000. CWM LLC raised its stake in shares of Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after buying an additional 1,147 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at $69,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Protagonist Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after acquiring an additional 379 shares during the period. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX opened at $38.96 on Friday. The company has a market capitalization of $2.32 billion, a P/E ratio of 14.65 and a beta of 2.18. The stock’s 50 day moving average price is $43.28 and its 200 day moving average price is $41.11. Protagonist Therapeutics has a 52 week low of $21.43 and a 52 week high of $48.89.

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.