HC Wainwright Boosts Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $38.00

Protagonist Therapeutics (NASDAQ:PTGX – Get Rating) had its price objective boosted by HC Wainwright from $33.00 to $38.00 in a report published on Thursday, The Fly reports. The brokerage currently has a buy rating on the stock.

PTGX has been the subject of a number of other reports. StockNews.com started coverage on shares of Protagonist Therapeutics in a research report on Thursday. They issued a hold rating for the company. JMP Securities raised their price objective on shares of Protagonist Therapeutics from $21.00 to $31.00 and gave the company a market outperform rating in a research report on Wednesday, March 8th. Finally, BTIG Research cut their price objective on shares of Protagonist Therapeutics to $41.00 in a research report on Wednesday, November 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Protagonist Therapeutics presently has an average rating of Moderate Buy and an average price target of $35.50.

Protagonist Therapeutics Price Performance

NASDAQ PTGX opened at $22.42 on Thursday. The company has a 50 day simple moving average of $16.12 and a 200-day simple moving average of $11.24. Protagonist Therapeutics has a 52-week low of $6.91 and a 52-week high of $27.41.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in Protagonist Therapeutics by 108.1% during the second quarter. State Street Corp now owns 6,776,269 shares of the company’s stock valued at $53,600,000 after acquiring an additional 3,519,461 shares in the last quarter. Vanguard Group Inc. grew its holdings in Protagonist Therapeutics by 7.6% during the third quarter. Vanguard Group Inc. now owns 2,942,767 shares of the company’s stock valued at $24,807,000 after purchasing an additional 208,002 shares during the last quarter. Morgan Stanley grew its holdings in Protagonist Therapeutics by 9.5% during the fourth quarter. Morgan Stanley now owns 2,438,517 shares of the company’s stock valued at $26,604,000 after purchasing an additional 210,942 shares during the last quarter. Bain Capital Life Sciences Investors LLC acquired a new position in Protagonist Therapeutics during the second quarter valued at approximately $17,881,000. Finally, Marshall Wace LLP grew its holdings in Protagonist Therapeutics by 78.5% during the fourth quarter. Marshall Wace LLP now owns 1,454,446 shares of the company’s stock valued at $15,868,000 after purchasing an additional 639,720 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

About Protagonist Therapeutics

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Protagonist Therapeutics, Inc a clinical-stage biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address unmet medical needs. Its product pipeline include PTG-300, PTG-200, and PN-943 The company was founded by Mark L. Smythe on August 22, 2006 and is headquartered in Newark, CA.