Protagonist Therapeutics (NASDAQ:PTGX) Given New $145.00 Price Target at Truist Financial

Protagonist Therapeutics (NASDAQ:PTGX) had its price target hoisted by investment analysts at Truist Financial from $121.00 to $145.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 10.27% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Wedbush raised their price objective on Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Citigroup reiterated an “outperform” rating on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. TD Cowen reissued a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen downgraded shares of Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $116.93.

Protagonist Therapeutics Stock Down 0.1%

PTGX stock opened at $131.50 on Tuesday. The company has a market cap of $8.46 billion, a price-to-earnings ratio of -72.65 and a beta of 1.79. The business has a fifty day simple moving average of $107.09 and a 200-day simple moving average of $96.70. Protagonist Therapeutics has a 52 week low of $49.38 and a 52 week high of $132.79.

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

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the transaction, the director owned 7,825 shares in the company, valued at $922,880.50. This represents a 53.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the sale, the chief executive officer owned 523,478 shares in the company, valued at $52,410,617.36. This represents a 12.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 162,880 shares of company stock worth $16,539,792 in the last ninety days. 5.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. NEXTBio Capital Management LP acquired a new position in shares of Protagonist Therapeutics in the fourth quarter worth about $20,055,000. Jennison Associates LLC purchased a new position in Protagonist Therapeutics in the fourth quarter valued at about $28,924,000. Farallon Capital Management LLC grew its stake in Protagonist Therapeutics by 0.4% during the 3rd quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock valued at $411,601,000 after purchasing an additional 24,000 shares in the last quarter. Mangrove Partners IM LLC grew its stake in Protagonist Therapeutics by 21.0% during the 3rd quarter. Mangrove Partners IM LLC now owns 478,413 shares of the company’s stock valued at $31,781,000 after purchasing an additional 83,030 shares in the last quarter. Finally, Eagle Health Investments LP purchased a new stake in Protagonist Therapeutics during the 4th quarter worth approximately $5,005,000. 98.63% of the stock is currently 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.