Protagonist Therapeutics’ (PTGX) “Outperform” Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note published on Monday, Marketbeat reports. They currently have a $58.00 price target on the stock.

A number of other research analysts have also recently commented on PTGX. BTIG Research upped their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JMP Securities lowered their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. HC Wainwright boosted their price objective on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. upped their target price on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $53.57.

Protagonist Therapeutics Stock Up 3.7 %

Shares of PTGX opened at $47.60 on Monday. The stock has a fifty day simple moving average of $45.36 and a two-hundred day simple moving average of $37.81. The company has a market capitalization of $2.80 billion, a PE ratio of 18.17 and a beta of 2.17. Protagonist Therapeutics has a 52-week low of $14.78 and a 52-week high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The firm had revenue of $4.17 million for the quarter, compared to analysts’ expectations of $40.00 million. As a group, equities analysts anticipate that Protagonist Therapeutics will post 2.46 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In related 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 completion of the transaction, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at $540,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the transaction, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC purchased a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at approximately $399,000. Victory Capital Management Inc. grew its stake in shares of Protagonist Therapeutics by 1,729.3% during the third quarter. Victory Capital Management Inc. now owns 130,797 shares of the company’s stock worth $5,886,000 after purchasing an additional 123,647 shares in the last quarter. Entropy Technologies LP purchased a new position in Protagonist Therapeutics in the third quarter valued at $312,000. Financial Enhancement Group LLC acquired a new stake in Protagonist Therapeutics in the third quarter valued at $1,882,000. Finally, Amalgamated Bank lifted its holdings in Protagonist Therapeutics by 756.4% during the 3rd quarter. Amalgamated Bank now owns 17,324 shares of the company’s stock worth $780,000 after buying an additional 15,301 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.