Protagonist Therapeutics (NASDAQ:PTGX) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Protagonist Therapeutics (NASDAQ:PTGX) from a buy rating to a hold rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a proprietary technology platform focused on discovering and developing peptide-based new chemical entities to address significant unmet medical needs. The Company’s initial lead product candidates consists of PTG-100 and PTG-200, which have the potential to transform the existing treatment paradigm for inflammatory bowel disease, a GI disease consisting primarily of ulcerative colitis and Crohn’s disease; PTG-300, an injectable hepcidin mimetic. Protagonist Therapeutics, Inc. is based in Milpitas, United States. “

PTGX has been the subject of a number of other research reports. ValuEngine upgraded shares of Protagonist Therapeutics from a sell rating to a hold rating in a report on Tuesday. BidaskClub downgraded shares of Protagonist Therapeutics from a buy rating to a hold rating in a report on Saturday, November 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $18.90.

NASDAQ PTGX traded up $0.02 during trading hours on Friday, reaching $7.33. 332,631 shares of the company were exchanged, compared to its average volume of 1,603,317. Protagonist Therapeutics has a 1 year low of $4.47 and a 1 year high of $16.67. The business’s 50 day simple moving average is $9.97 and its 200-day simple moving average is $11.62. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.68 and a current ratio of 4.68.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.10. Protagonist Therapeutics had a negative net margin of 209.02% and a negative return on equity of 74.86%. The business had revenue of $4.14 million during the quarter, compared to the consensus estimate of $5.75 million. On average, research analysts predict that Protagonist Therapeutics will post -2.99 EPS for the current year.

In other Protagonist Therapeutics news, EVP Suneel Gupta bought 30,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average price of $5.13 per share, for a total transaction of $153,900.00. Following the completion of the purchase, the executive vice president now directly owns 389,824 shares of the company’s stock, valued at $1,999,797.12. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bryan Giraudo bought 8,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $5.70 per share, with a total value of $45,600.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $57,000. The disclosure for this purchase can be found here. Insiders have purchased 39,175 shares of company stock valued at $205,493 in the last 90 days. 14.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in shares of Protagonist Therapeutics by 20.7% in the third quarter. Rhumbline Advisers now owns 15,540 shares of the company’s stock worth $187,000 after purchasing an additional 2,662 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Protagonist Therapeutics by 13.7% in the third quarter. California State Teachers Retirement System now owns 26,542 shares of the company’s stock worth $319,000 after purchasing an additional 3,195 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Protagonist Therapeutics by 1,433.3% in the third quarter. Meeder Asset Management Inc. now owns 3,450 shares of the company’s stock worth $41,000 after purchasing an additional 3,225 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Protagonist Therapeutics by 25.9% in the second quarter. Wells Fargo & Company MN now owns 20,553 shares of the company’s stock worth $248,000 after purchasing an additional 4,224 shares in the last quarter. Finally, Algert Global LLC increased its stake in shares of Protagonist Therapeutics by 48.0% in the second quarter. Algert Global LLC now owns 15,517 shares of the company’s stock worth $188,000 after purchasing an additional 5,030 shares in the last quarter. Hedge funds and other institutional investors own 79.44% of the company’s stock.

About Protagonist Therapeutics

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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