HC Wainwright Analysts Increase Earnings Estimates for PTGX

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) - Equities research analysts at HC Wainwright upped their FY2024 earnings estimates for Protagonist Therapeutics in a report issued on Monday, November 11th. HC Wainwright analyst D. Tsao now expects that the company will post earnings per share of $1.82 for the year, up from their previous estimate of $1.44. HC Wainwright currently has a "Buy" rating and a $50.00 target price on the stock. The consensus estimate for Protagonist Therapeutics' current full-year earnings is $2.33 per share. HC Wainwright also issued estimates for Protagonist Therapeutics' Q4 2024 earnings at ($0.41) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.53) EPS, FY2025 earnings at ($0.38) EPS, FY2026 earnings at ($1.55) EPS and FY2027 earnings at ($0.41) EPS.

PTGX has been the topic of several other reports. Wedbush reissued an "outperform" rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Monday, November 4th. BTIG Research raised their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. JMP Securities reduced their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research note on Wednesday, August 7th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, TD Cowen upgraded shares of Protagonist Therapeutics to a "strong-buy" rating in a report on Wednesday, September 25th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $53.57.

Protagonist Therapeutics Trading Down 2.8 %

Shares of PTGX traded down $1.20 during mid-day trading on Thursday, hitting $41.47. 313,161 shares of the company traded hands, compared to its average volume of 731,749. Protagonist Therapeutics has a one year low of $15.58 and a one year high of $48.89. The business has a 50-day moving average of $45.66 and a 200 day moving average of $38.49. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 15.86 and a beta of 2.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Walleye Capital LLC acquired a new position in Protagonist Therapeutics in the 3rd quarter valued at about $4,740,000. Public Sector Pension Investment Board acquired a new position in Protagonist Therapeutics in the 3rd quarter valued at about $5,623,000. BNP Paribas Financial Markets grew its stake in Protagonist Therapeutics by 448.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,294 shares of the company's stock valued at $913,000 after buying an additional 16,597 shares during the last quarter. FMR LLC grew its stake in Protagonist Therapeutics by 4.5% in the 3rd quarter. FMR LLC now owns 454,196 shares of the company's stock valued at $20,439,000 after buying an additional 19,737 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new position in Protagonist Therapeutics in the 3rd quarter valued at about $510,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Insider Activity at Protagonist Therapeutics

In related news, CFO Asif Ali sold 14,203 shares of the business's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now directly owns 34,960 shares of the company's stock, valued at approximately $1,555,370.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director William D. Waddill sold 8,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at $540,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Asif Ali sold 14,203 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the transaction, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by insiders.

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.