Protagonist Therapeutics Inc (PTGX) Receives Average Rating of “Hold” from Analysts

Protagonist Therapeutics Inc (NASDAQ:PTGX) has been assigned a consensus rating of “Hold” from the six research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $37.00.

A number of equities analysts have commented on PTGX shares. BMO Capital Markets lowered their price objective on Protagonist Therapeutics from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 19th. Zacks Investment Research lowered Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 18th. BidaskClub upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Finally, Stifel Nicolaus started coverage on Protagonist Therapeutics in a research note on Monday. They set a “buy” rating and a $32.00 price objective on the stock.

Protagonist Therapeutics (PTGX) opened at $19.23 on Monday. The firm has a market capitalization of $393.82, a P/E ratio of -7.15 and a beta of -1.66. Protagonist Therapeutics has a 52 week low of $8.00 and a 52 week high of $21.68.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Monday, November 6th. The company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.40. The firm had revenue of $8.78 million for the quarter.

In other Protagonist Therapeutics news, insider Dinesh V. Ph D. Patel sold 1,790 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $19.55, for a total transaction of $34,994.50. Following the transaction, the insider now owns 192,227 shares in the company, valued at approximately $3,758,037.85. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Richard S. Shames sold 3,529 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $20.50, for a total value of $72,344.50. Following the transaction, the insider now owns 3,529 shares in the company, valued at approximately $72,344.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,944 shares of company stock worth $438,629. Corporate insiders own 15.50% of the company’s stock.

Several hedge funds have recently modified their holdings of PTGX. Rhumbline Advisers acquired a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at $114,000. Bank of Montreal Can boosted its holdings in shares of Protagonist Therapeutics by 1,086.0% in the 4th quarter. Bank of Montreal Can now owns 5,930 shares of the company’s stock valued at $123,000 after purchasing an additional 5,430 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Protagonist Therapeutics by 60.8% in the 3rd quarter. Wells Fargo & Company MN now owns 9,565 shares of the company’s stock valued at $169,000 after purchasing an additional 3,617 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of Protagonist Therapeutics by 71.4% in the 2nd quarter. Teachers Advisors LLC now owns 16,218 shares of the company’s stock valued at $183,000 after purchasing an additional 6,757 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Protagonist Therapeutics by 8.5% in the 2nd quarter. California State Teachers Retirement System now owns 16,600 shares of the company’s stock valued at $188,000 after purchasing an additional 1,300 shares in the last quarter. 41.86% of the stock is currently owned by hedge funds and other institutional investors.

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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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