Protagonist Therapeutics (NASDAQ:PTGX) Coverage Initiated at Citigroup

Analysts at Citigroup initiated coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $72.00 price target on the stock. Citigroup’s price objective suggests a potential upside of 33.53% from the stock’s current price.

PTGX has been the subject of a number of other research reports. Truist Financial raised their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Wedbush restated an “outperform” rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a report on Friday, March 28th. Wall Street Zen upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, June 8th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.10.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $53.92 on Tuesday. Protagonist Therapeutics has a 52-week low of $30.67 and a 52-week high of $60.60. The company has a 50-day simple moving average of $47.46 and a 200 day simple moving average of $43.63. The company has a market capitalization of $3.34 billion, a PE ratio of 71.89 and a beta of 2.25.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. The business had revenue of $28.32 million during the quarter, compared to the consensus estimate of $30.44 million. As a group, analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In related news, CFO Asif Ali sold 1,756 shares of the business’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the transaction, the chief financial officer now owns 61,065 shares of the company’s stock, valued at approximately $2,808,990. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arturo Md Molina sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total transaction of $570,300.00. Following the transaction, the insider now directly owns 83,892 shares of the company’s stock, valued at approximately $4,784,360.76. This represents a 10.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can grew its stake in Protagonist Therapeutics by 4.5% during the fourth quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock valued at $241,000 after acquiring an additional 270 shares in the last quarter. GF Fund Management CO. LTD. grew its stake in Protagonist Therapeutics by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 1,526 shares of the company’s stock valued at $74,000 after acquiring an additional 275 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Protagonist Therapeutics by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock valued at $779,000 after acquiring an additional 278 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Protagonist Therapeutics by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock valued at $1,112,000 after acquiring an additional 300 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Protagonist Therapeutics by 4.1% during the first quarter. Hsbc Holdings PLC now owns 8,458 shares of the company’s stock valued at $405,000 after acquiring an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.