Protagonist Therapeutics (NASDAQ:PTGX) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright began coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note published on Monday, Benzinga reports. The brokerage issued a buy rating and a $23.00 price target on the stock.

A number of other brokerages have also weighed in on PTGX. Zacks Investment Research lowered HEXO from a hold rating to a sell rating in a research note on Wednesday, May 15th. Stifel Nicolaus upgraded Protagonist Therapeutics from a hold rating to a buy rating and increased their target price for the stock from $11.00 to $17.00 in a research note on Wednesday, May 8th. BidaskClub upgraded Misonix from a buy rating to a strong-buy rating in a research note on Wednesday, July 3rd. Finally, ValuEngine upgraded VESTAS WIND SYS/ADR from a hold rating to a buy rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Protagonist Therapeutics currently has a consensus rating of Buy and a consensus price target of $17.17.

PTGX stock opened at $13.65 on Monday. The company has a quick ratio of 5.02, a current ratio of 5.02 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $309.06 million, a PE ratio of -7.84 and a beta of 1.88. The stock’s 50-day moving average price is $11.69. Protagonist Therapeutics has a fifty-two week low of $5.49 and a fifty-two week high of $14.36.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Wednesday, May 8th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.01. Protagonist Therapeutics had a negative return on equity of 40.78% and a negative net margin of 209.02%. The business had revenue of $1.56 million for the quarter, compared to analyst estimates of $2.50 million. As a group, sell-side analysts anticipate that Protagonist Therapeutics will post -2.07 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Laurion Capital Management LP increased its holdings in shares of Protagonist Therapeutics by 400.8% in the 1st quarter. Laurion Capital Management LP now owns 85,641 shares of the company’s stock valued at $1,077,000 after acquiring an additional 68,541 shares during the period. Bank of Montreal Can increased its holdings in shares of Protagonist Therapeutics by 1,675.5% in the 1st quarter. Bank of Montreal Can now owns 11,026 shares of the company’s stock valued at $139,000 after acquiring an additional 10,405 shares during the period. Tibra Equities Europe Ltd acquired a new position in shares of Protagonist Therapeutics in the 1st quarter valued at $410,000. Perceptive Advisors LLC acquired a new position in Protagonist Therapeutics in the 4th quarter valued at $9,190,000. Finally, D. E. Shaw & Co. Inc. increased its stake in Protagonist Therapeutics by 75.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 19,645 shares of the company’s stock valued at $132,000 after buying an additional 8,450 shares during the period. 64.40% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.

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Analyst Recommendations for Protagonist Therapeutics (NASDAQ:PTGX)

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