Equities Analysts Issue Forecasts for PTGX FY2029 Earnings

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) – Equities researchers at Wedbush increased their FY2029 earnings per share estimates for shares of Protagonist Therapeutics in a report released on Wednesday, May 7th. Wedbush analyst Y. Zhong now forecasts that the company will earn $2.30 per share for the year, up from their prior estimate of $2.25. Wedbush has a “Outperform” rating and a $70.00 price objective on the stock. The consensus estimate for Protagonist Therapeutics’ current full-year earnings is $2.43 per share.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.31. The company had revenue of $28.32 million during the quarter, compared to analyst estimates of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group cut their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a research report on Monday, March 3rd. JMP Securities reissued a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. BMO Capital Markets upped their target price on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.44.

Protagonist Therapeutics Trading Up 2.1 %

PTGX opened at $43.98 on Thursday. The stock has a 50-day moving average of $46.87 and a 200 day moving average of $42.75. Protagonist Therapeutics has a 12 month low of $26.79 and a 12 month high of $60.60. The firm has a market cap of $2.72 billion, a P/E ratio of 16.53 and a beta of 2.65.

Hedge Funds Weigh In On Protagonist Therapeutics

Several large investors have recently made changes to their positions in PTGX. Barclays PLC increased its position in shares of Protagonist Therapeutics by 223.6% in the 3rd quarter. Barclays PLC now owns 126,995 shares of the company’s stock valued at $5,714,000 after purchasing an additional 87,755 shares during the last quarter. Franklin Resources Inc. raised its stake in Protagonist Therapeutics by 127.2% during the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after acquiring an additional 45,674 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Protagonist Therapeutics by 3,099.4% in the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock worth $14,437,000 after acquiring an additional 310,804 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $38,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Protagonist Therapeutics during the fourth quarter worth about $2,016,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the sale, the insider now directly owns 83,892 shares of the company’s stock, valued at $4,676,140.08. The trade was a 26.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.25, for a total transaction of $217,000.00. Following the sale, the director now directly owns 13,130 shares in the company, valued at approximately $712,302.50. This trade represents a 23.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,532 shares of company stock worth $3,665,786. Company insiders own 5.40% 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.