Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $85.0769.

Several research analysts have commented on the company. Truist Financial boosted their target price on Protagonist Therapeutics from $76.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $68.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Citigroup upped their price objective on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Leerink Partners initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, September 12th. They issued an “outperform” rating and a $73.00 price objective for the company. Finally, Wedbush boosted their target price on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock opened at $87.26 on Wednesday. The stock’s fifty day moving average price is $84.93 and its two-hundred day moving average price is $68.13. The company has a market cap of $5.46 billion, a PE ratio of 140.74 and a beta of 2.19. Protagonist Therapeutics has a fifty-two week low of $33.70 and a fifty-two week high of $96.54.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%.The business had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. On average, equities analysts predict that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In related news, Director William D. Waddill sold 12,000 shares of the business’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $81.62, for a total transaction of $979,440.00. Following the sale, the director owned 5,130 shares in the company, valued at $418,710.60. The trade was a 70.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several large investors have recently bought and sold shares of PTGX. Farallon Capital Management LLC grew its holdings in shares of Protagonist Therapeutics by 0.4% during the third quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock worth $411,601,000 after purchasing an additional 24,000 shares during the last quarter. BVF Inc. IL boosted its position in Protagonist Therapeutics by 24.7% during the 2nd quarter. BVF Inc. IL now owns 3,211,041 shares of the company’s stock worth $177,474,000 after buying an additional 636,026 shares during the period. State Street Corp grew its holdings in Protagonist Therapeutics by 18.5% during the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after acquiring an additional 500,924 shares during the last quarter. Wellington Management Group LLP increased its position in Protagonist Therapeutics by 83.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,908,446 shares of the company’s stock valued at $126,778,000 after acquiring an additional 870,708 shares during the period. Finally, Geode Capital Management LLC increased its position in Protagonist Therapeutics by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,444,230 shares of the company’s stock valued at $79,833,000 after acquiring an additional 20,671 shares during the period. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.