Franklin Resources Inc. Purchases 7,279 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Franklin Resources Inc. lifted its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 88,870 shares of the company's stock after purchasing an additional 7,279 shares during the quarter. Franklin Resources Inc. owned 0.15% of Protagonist Therapeutics worth $3,430,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of Protagonist Therapeutics by 3,099.4% in the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock worth $14,437,000 after acquiring an additional 310,804 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Protagonist Therapeutics by 36.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 216,069 shares of the company's stock worth $8,340,000 after purchasing an additional 58,002 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth $2,016,000. Charles Schwab Investment Management Inc. increased its stake in shares of Protagonist Therapeutics by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company's stock valued at $22,327,000 after buying an additional 12,906 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Protagonist Therapeutics by 223.6% in the third quarter. Barclays PLC now owns 126,995 shares of the company's stock valued at $5,714,000 after buying an additional 87,755 shares during the last quarter. 98.63% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of brokerages have commented on PTGX. JPMorgan Chase & Co. increased their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a report on Thursday, April 10th. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a report on Monday, March 3rd. The Goldman Sachs Group decreased their price objective on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Finally, JMP Securities restated a "market outperform" rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $65.44.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the transaction, the chief executive officer now directly owns 540,260 shares of the company's stock, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Waddill sold 4,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the completion of the sale, the director now owns 13,130 shares of the company's stock, valued at $712,302.50. This trade represents a 23.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,776 shares of company stock valued at $3,585,010. Corporate insiders own 5.40% of the company's stock.

Protagonist Therapeutics Stock Up 4.3 %

Shares of Protagonist Therapeutics stock traded up $1.92 during trading on Tuesday, reaching $46.95. 2,147,622 shares of the company were exchanged, compared to its average volume of 837,816. The business has a 50-day moving average price of $44.19 and a 200-day moving average price of $42.74. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 17.65 and a beta of 2.30. Protagonist Therapeutics, Inc. has a twelve month low of $24.22 and a twelve month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $2.07. The company had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. On average, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Protagonist Therapeutics 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.