Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives Average Recommendation of "Buy" from Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) has received an average recommendation of "Buy" from the six analysts that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $52.83.

Several brokerages have weighed in on PTGX. BTIG Research boosted their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. StockNews.com upgraded Protagonist Therapeutics from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an "overweight" rating in a research note on Thursday, July 25th. JMP Securities lowered their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial assumed coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They set a "buy" rating and a $60.00 price target on the stock.

Protagonist Therapeutics Trading Up 1.2 %

Shares of PTGX stock traded up $0.56 on Friday, reaching $46.40. The company's stock had a trading volume of 202,015 shares, compared to its average volume of 735,668. The stock's fifty day simple moving average is $44.99 and its 200-day simple moving average is $37.14. Protagonist Therapeutics has a 1 year low of $14.78 and a 1 year high of $48.89. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 17.50 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting analysts' consensus estimates of ($0.50). The business had revenue of $4.17 million during the quarter, compared to analysts' expectations of $40.00 million. Equities research analysts forecast that Protagonist Therapeutics will post 2.32 earnings per share for the current year.

Insider Activity at Protagonist Therapeutics

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

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of PTGX. GSA Capital Partners LLP increased its position in Protagonist Therapeutics by 179.8% during the 1st quarter. GSA Capital Partners LLP now owns 55,359 shares of the company's stock valued at $1,602,000 after buying an additional 35,571 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Protagonist Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company's stock valued at $92,373,000 after purchasing an additional 39,055 shares during the last quarter. Seven Eight Capital LP boosted its stake in Protagonist Therapeutics by 426.9% in the 2nd quarter. Seven Eight Capital LP now owns 36,793 shares of the company's stock worth $1,275,000 after purchasing an additional 29,810 shares in the last quarter. Bank of New York Mellon Corp grew its position in Protagonist Therapeutics by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company's stock worth $7,079,000 after purchasing an additional 17,065 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in Protagonist Therapeutics during the 2nd quarter valued at approximately $2,112,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

About Protagonist Therapeutics

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.