Analysts Set Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Price Target at $56.00

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has received an average rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $56.00.

A number of brokerages recently commented on PTGX. JMP Securities reiterated a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets assumed coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Suneel Gupta sold 103,437 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the transaction, the insider now directly owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. This trade represents a 28.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total value of $1,162,200.00. Following the sale, the insider now directly owns 46,444 shares in the company, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 207,957 shares of company stock valued at $9,611,739. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Institutional investors have recently bought and sold shares of the company. RTW Investments LP raised its stake in shares of Protagonist Therapeutics by 2.6% during the 3rd quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock worth $244,175,000 after buying an additional 139,708 shares during the last quarter. State Street Corp lifted its holdings in shares of 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 in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Protagonist Therapeutics by 8.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock valued at $72,432,000 after purchasing an additional 142,376 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Protagonist Therapeutics by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,392,652 shares of the company’s stock valued at $53,758,000 after purchasing an additional 83,185 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Protagonist Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company’s stock worth $61,873,000 after purchasing an additional 3,528 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Down 0.0 %

Shares of NASDAQ:PTGX opened at $38.67 on Friday. Protagonist Therapeutics has a fifty-two week low of $24.22 and a fifty-two week high of $48.89. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 14.54 and a beta of 2.22. The firm’s 50 day moving average price is $38.61 and its 200 day moving average price is $41.83.

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.