Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Average Rating of "Buy" by Brokerages

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) has earned an average rating of "Buy" from the seven brokerages that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $53.57.

PTGX has been the subject of a number of analyst reports. StockNews.com upgraded Protagonist Therapeutics from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. HC Wainwright reiterated a "buy" rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. TD Cowen raised Protagonist Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 25th. Truist Financial began coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, JMP Securities dropped their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating for the company in a research report on Wednesday, August 7th.

Insider Buying and Selling

In other news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at approximately $540,000. This trade represents a 40.00 % decrease in their position. The sale was disclosed in a filing 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 stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,109 shares of company stock valued at $1,069,999 in the last ninety days. Company insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company's stock valued at $25,000 after purchasing an additional 487 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Protagonist Therapeutics during the 1st quarter worth $35,000. Exchange Traded Concepts LLC acquired a new position in Protagonist Therapeutics in the third quarter valued at $43,000. CWM LLC boosted its stake in Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company's stock valued at $57,000 after acquiring an additional 1,147 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Protagonist Therapeutics during the first quarter worth about $69,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Trading Down 1.5 %

Protagonist Therapeutics stock traded down $0.70 during mid-day trading on Tuesday, hitting $44.83. The company had a trading volume of 688,248 shares, compared to its average volume of 751,375. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 16.85 and a beta of 2.17. Protagonist Therapeutics has a 12-month low of $16.80 and a 12-month high of $48.89. The company's fifty day moving average is $45.24 and its 200-day moving average is $39.58.

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.