Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Up 5.6% – What’s Next?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s stock price rose 5.6% during trading on Monday . The company traded as high as $39.85 and last traded at $39.82. Approximately 127,334 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 553,557 shares. The stock had previously closed at $37.69.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PTGX. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, December 10th. BMO Capital Markets assumed coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They issued an “outperform” rating and a $62.00 target price for the company. The Goldman Sachs Group started coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set a “neutral” rating and a $47.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.78.

Protagonist Therapeutics Price Performance

The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 14.79 and a beta of 2.23. The stock has a 50-day moving average price of $40.00 and a 200 day moving average price of $41.83.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.05. The business had revenue of $4.68 million during the quarter, compared to the consensus estimate of $4.50 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, equities research analysts predict that Protagonist Therapeutics, Inc. will post 2.28 earnings per share for the current year.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the transaction, the chief executive officer now directly owns 435,208 shares in the company, valued at $20,437,367.68. The trade was a 15.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the sale, the insider now owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,863 shares of company stock valued at $9,689,847. Insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Several large investors have recently modified their holdings of PTGX. GAMMA Investing LLC lifted its stake in Protagonist Therapeutics by 749.2% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after buying an additional 487 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Protagonist Therapeutics during the 4th quarter worth about $38,000. Exchange Traded Concepts LLC acquired a new position in Protagonist Therapeutics in the 3rd quarter valued at about $43,000. CWM LLC lifted its holdings in 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 purchasing an additional 1,147 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth about $69,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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.