Protagonist Therapeutics (NASDAQ:PTGX) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report report published on Monday, MarketBeat Ratings reports. They currently have a $58.00 price target on the stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JMP Securities cut their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 7th. HC Wainwright lifted their price objective on Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $53.57.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock opened at $46.76 on Monday. Protagonist Therapeutics has a 52 week low of $14.78 and a 52 week high of $48.89. The stock has a market capitalization of $2.75 billion, a PE ratio of 17.85 and a beta of 2.17. The stock’s fifty day moving average is $45.19 and its 200-day moving average is $37.60.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million for the quarter, compared to the consensus estimate of $40.00 million. As a group, analysts forecast that Protagonist Therapeutics will post 2.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares in the company, valued at $540,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at $1,555,370.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at $540,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in shares of Protagonist Therapeutics by 2,135.6% in the 2nd quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock valued at $33,205,000 after buying an additional 915,418 shares during the last quarter. Perceptive Advisors LLC raised its position in Protagonist Therapeutics by 27.6% during the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after acquiring an additional 274,412 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Protagonist Therapeutics by 813.4% in the second quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock valued at $10,307,000 after acquiring an additional 264,900 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Protagonist Therapeutics in the second quarter valued at $5,467,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Protagonist Therapeutics by 24,162.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 103,842 shares of the company’s stock valued at $4,673,000 after acquiring an additional 103,414 shares during the period. Institutional investors own 98.63% of the company’s stock.

About Protagonist Therapeutics

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.