Protagonist Therapeutics (NASDAQ:PTGX) Upgraded at Wall Street Zen

Protagonist Therapeutics (NASDAQ:PTGX) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other research firms have also recently commented on PTGX. Johnson Rice set a $165.00 price target on Protagonist Therapeutics in a report on Friday, July 17th. The Goldman Sachs Group restated a “neutral” rating and set a $110.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, May 6th. Citizens Jmp upped their target price on Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. Finally, Citigroup reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.00.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX opened at $136.11 on Friday. The firm’s 50-day moving average is $116.79 and its 200-day moving average is $101.33. The company has a market cap of $8.75 billion, a price-to-earnings ratio of -75.20 and a beta of 1.79. Protagonist Therapeutics has a 52-week low of $50.49 and a 52-week high of $143.29.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The business had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. Equities analysts predict that Protagonist Therapeutics will post 3.69 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the sale, the chief executive officer directly owned 523,478 shares in the company, valued at approximately $52,410,617.36. This represents a 12.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bryan Giraudo sold 6,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $100.00, for a total value of $600,000.00. Following the completion of the transaction, the director directly owned 31,825 shares of the company’s stock, valued at approximately $3,182,500. The trade was a 15.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 161,130 shares of company stock valued at $16,355,220. 5.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. NEXTBio Capital Management LP acquired a new stake in shares of Protagonist Therapeutics during the fourth quarter worth approximately $20,055,000. Jennison Associates LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter worth approximately $28,924,000. Clearbridge Investments LLC bought a new stake in Protagonist Therapeutics during the 4th quarter worth approximately $42,783,000. Keystone Investors PTE Ltd. acquired a new stake in Protagonist Therapeutics during the 4th quarter valued at $2,305,000. Finally, Eagle Health Investments LP acquired a new stake in Protagonist Therapeutics during the 4th quarter valued at $5,005,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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.