Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $123.00.

Several research firms have issued reports on PTGX. Wall Street Zen cut Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. The Goldman Sachs Group reissued a “neutral” rating and issued a $110.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. Truist Financial lifted their price target on Protagonist Therapeutics from $121.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Finally, Wolfe Research initiated coverage on Protagonist Therapeutics in a research report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 price objective for the company.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $140.91 on Friday. The stock has a market capitalization of $9.06 billion, a PE ratio of -77.85 and a beta of 1.79. The company has a fifty day moving average of $113.50 and a 200-day moving average of $99.64. Protagonist Therapeutics has a one year low of $50.49 and a one year high of $141.10.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million for the quarter, compared to analyst estimates of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. Equities analysts forecast that Protagonist Therapeutics will post 2.93 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other news, Director William D. Waddill sold 9,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the transaction, the director directly owned 7,825 shares of the company’s stock, valued at $922,880.50. This represents a 53.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bryan Giraudo sold 6,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $100.00, for a total transaction of $600,000.00. Following the transaction, the director directly owned 31,825 shares in the company, valued at approximately $3,182,500. This trade represents a 15.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 162,880 shares of company stock valued at $16,539,792 over the last 90 days. Company insiders own 5.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PTGX. Handelsbanken Fonder AB increased its holdings in Protagonist Therapeutics by 7.5% in the second quarter. Handelsbanken Fonder AB now owns 21,400 shares of the company’s stock valued at $2,623,000 after buying an additional 1,500 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its stake in shares of Protagonist Therapeutics by 15.6% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 12,810 shares of the company’s stock worth $1,570,000 after acquiring an additional 1,725 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Protagonist Therapeutics by 7.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock worth $381,000 after acquiring an additional 208 shares during the period. Harbor Investment Advisory LLC acquired a new stake in shares of Protagonist Therapeutics in the 2nd quarter worth approximately $89,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Protagonist Therapeutics in the 1st quarter worth approximately $518,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.