Protagonist Therapeutics (PTGX) Downgraded to “Hold” at BidaskClub

BidaskClub downgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a buy rating to a hold rating in a research report report published on Tuesday.

Several other brokerages have also recently commented on PTGX. Zacks Investment Research cut shares of Protagonist Therapeutics from a strong-buy rating to a hold rating in a report on Thursday, January 4th. BMO Capital Markets reduced their target price on shares of Protagonist Therapeutics from $45.00 to $40.00 and set an outperform rating for the company in a report on Thursday, October 19th. Finally, ValuEngine cut shares of Protagonist Therapeutics from a hold rating to a sell rating in a report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $32.67.

Shares of Protagonist Therapeutics (NASDAQ:PTGX) traded down $0.32 on Tuesday, reaching $19.84. 53,847 shares of the company traded hands, compared to its average volume of 102,782. Protagonist Therapeutics has a fifty-two week low of $8.00 and a fifty-two week high of $21.68. The firm has a market capitalization of $412.87, a PE ratio of -7.38 and a beta of -1.66.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Monday, November 6th. The company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.40. The business had revenue of $8.78 million for the quarter. equities research analysts forecast that Protagonist Therapeutics will post -3.66 EPS for the current fiscal year.

In other Protagonist Therapeutics news, insider Richard S. Shames sold 3,529 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $20.50, for a total value of $72,344.50. Following the completion of the sale, the insider now owns 3,529 shares in the company, valued at $72,344.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David Y. Liu sold 7,000 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $16.97, for a total transaction of $118,790.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,069 shares of company stock valued at $421,129. Corporate insiders own 15.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers acquired a new stake in Protagonist Therapeutics in the second quarter valued at $114,000. Wells Fargo & Company MN lifted its stake in Protagonist Therapeutics by 60.8% in the third quarter. Wells Fargo & Company MN now owns 9,565 shares of the company’s stock valued at $169,000 after acquiring an additional 3,617 shares during the last quarter. Teachers Advisors LLC lifted its stake in Protagonist Therapeutics by 71.4% in the second quarter. Teachers Advisors LLC now owns 16,218 shares of the company’s stock valued at $183,000 after acquiring an additional 6,757 shares during the last quarter. California State Teachers Retirement System lifted its stake in Protagonist Therapeutics by 8.5% in the second quarter. California State Teachers Retirement System now owns 16,600 shares of the company’s stock valued at $188,000 after acquiring an additional 1,300 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Protagonist Therapeutics by 19.5% in the second quarter. TIAA CREF Investment Management LLC now owns 23,372 shares of the company’s stock valued at $264,000 after purchasing an additional 3,812 shares during the period. Hedge funds and other institutional investors own 39.68% of the company’s stock.

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About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs.

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