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

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $93.3846.

A number of research analysts recently issued reports on PTGX shares. Jefferies Financial Group boosted their price target on Protagonist Therapeutics from $95.00 to $118.00 and gave the company a “buy” rating in a report on Monday, February 2nd. HC Wainwright boosted their target price on Protagonist Therapeutics from $80.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Weiss Ratings downgraded Protagonist Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. Wedbush lifted their price target on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Finally, BTIG Research reiterated a “buy” rating and issued a $82.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, October 28th.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 34,438 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $82.48, for a total transaction of $2,840,446.24. Following the sale, the chief executive officer directly owned 580,505 shares of the company’s stock, valued at approximately $47,880,052.40. The trade was a 5.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Asif Ali sold 46,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $83.13, for a total value of $3,840,855.39. Following the transaction, the chief financial officer owned 60,320 shares in the company, valued at $5,014,401.60. This trade represents a 43.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 203,167 shares of company stock valued at $16,889,199 over the last three months. Corporate insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds have recently made changes to their positions in PTGX. KVP Capital Advisors LP bought a new position in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $4,629,000. Virtus Investment Advisers LLC grew its stake in shares of Protagonist Therapeutics by 38.1% in the 4th quarter. Virtus Investment Advisers LLC now owns 2,790 shares of the company’s stock worth $244,000 after buying an additional 770 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Protagonist Therapeutics by 66.2% in the 4th quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock worth $276,992,000 after buying an additional 1,262,977 shares during the last quarter. SummitTX Capital L.P. increased its position in Protagonist Therapeutics by 34.2% during the 4th quarter. SummitTX Capital L.P. now owns 42,266 shares of the company’s stock valued at $3,692,000 after buying an additional 10,776 shares in the last quarter. Finally, Orbimed Advisors LLC purchased a new position in Protagonist Therapeutics during the fourth quarter valued at $1,895,000. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Trading Up 0.6%

PTGX stock opened at $82.99 on Thursday. The firm’s 50-day moving average price is $84.80 and its two-hundred day moving average price is $75.37. Protagonist Therapeutics has a 12-month low of $33.70 and a 12-month high of $96.54. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 133.86 and a beta of 2.26.

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.