Protagonist Therapeutics (NASDAQ:PTGX) Given Outperform Rating at Wedbush

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Wedbush in a research note issued on Monday, RTT News reports. They currently have a $58.00 price objective on the stock. Wedbush's price objective suggests a potential upside of 24.04% from the company's current price.

PTGX has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Truist Financial assumed coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They set a "buy" rating and a $60.00 price objective on the stock. StockNews.com upgraded shares of Protagonist Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday, August 8th. JMP Securities dropped their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating on the stock in a report on Wednesday, August 7th. Finally, BTIG Research lifted their price target on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $53.57.

Protagonist Therapeutics Price Performance

PTGX stock remained flat at $46.76 during midday trading on Monday. The company's stock had a trading volume of 375,841 shares, compared to its average volume of 735,013. The business has a 50-day moving average of $45.09 and a 200 day moving average of $37.44. Protagonist Therapeutics has a 52 week low of $14.78 and a 52 week high of $48.89. The firm has a market capitalization of $2.75 billion, a PE ratio of 17.85 and a beta of 2.17.

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

Insider Activity at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director William D. Waddill sold 8,000 shares of the firm's 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 completion of the sale, 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 SEC, which can be accessed through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the transaction, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. This 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 insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PTGX. Financial Enhancement Group LLC acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at about $1,882,000. Amalgamated Bank grew its position in Protagonist Therapeutics by 756.4% in the third quarter. Amalgamated Bank now owns 17,324 shares of the company's stock worth $780,000 after acquiring an additional 15,301 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth $866,000. Palumbo Wealth Management LLC acquired a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at $234,000. Finally, New York State Teachers Retirement System bought a new stake in Protagonist Therapeutics in the third quarter worth $1,107,000. 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.

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