Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Protagonist Therapeutics (NASDAQ:PTGX) had its price target raised by equities researchers at The Goldman Sachs Group from $65.00 to $95.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 0.18% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Truist Financial lifted their price target on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a report on Monday, January 5th. JPMorgan Chase & Co. boosted their price target on Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. TD Cowen raised their price objective on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Jefferies Financial Group raised their price objective on Protagonist Therapeutics from $95.00 to $118.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Citizens Jmp boosted their price target on shares of Protagonist Therapeutics from $102.00 to $112.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Protagonist Therapeutics Stock Up 3.9%

Shares of NASDAQ:PTGX opened at $94.83 on Tuesday. The company has a 50-day moving average price of $84.57 and a 200 day moving average price of $77.80. Protagonist Therapeutics has a 52 week low of $37.67 and a 52 week high of $96.54. The company has a market cap of $6.05 billion, a P/E ratio of -46.26 and a beta of 2.23.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.16). The company had revenue of $7.44 million for the quarter, compared to analyst estimates of $14.92 million. Protagonist Therapeutics had a negative return on equity of 19.89% and a negative net margin of 282.83%. Analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 34,438 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $82.48, for a total value of $2,840,446.24. Following the sale, the chief executive officer owned 580,505 shares of the company’s stock, valued at $47,880,052.40. The trade was a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Asif Ali sold 46,203 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $83.13, for a total value of $3,840,855.39. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 203,167 shares of company stock worth $16,889,199 in the last ninety days. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its holdings in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after acquiring an additional 156 shares during the period. Greenline Wealth Management LLC acquired a new stake in Protagonist Therapeutics in the 4th quarter valued at $27,000. Bessemer Group Inc. boosted its position in Protagonist Therapeutics by 171.0% during the second quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at approximately $29,000. Finally, CWM LLC grew its position in shares of Protagonist Therapeutics by 201.5% in the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after acquiring an additional 407 shares during the period. 98.63% of the stock is currently owned by institutional investors and hedge funds.

About Protagonist Therapeutics

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.