Analysts Set Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Target Price at $53.78

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) have been assigned an average rating of "Buy" from the nine analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $53.78.

Several research firms recently weighed in on PTGX. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They set a "buy" rating and a $60.00 price objective on the stock. BMO Capital Markets started coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set an "outperform" rating and a $62.00 price target on the stock. HC Wainwright restated a "buy" rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, December 10th. TD Cowen raised Protagonist Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 25th. Finally, StockNews.com downgraded shares of Protagonist Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th.

Protagonist Therapeutics Stock Up 4.9 %

Shares of NASDAQ:PTGX traded up $1.95 on Friday, reaching $41.49. 2,360,707 shares of the company's stock were exchanged, compared to its average volume of 748,240. The business's 50-day moving average is $44.02 and its two-hundred day moving average is $40.88. Protagonist Therapeutics has a fifty-two week low of $20.88 and a fifty-two week high of $48.89. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 15.60 and a beta of 2.18.

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 1,906 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the transaction, the insider now owns 46,444 shares in the company, valued at $1,903,275.12. This trade represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Suneel Gupta sold 103,437 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the sale, the insider now owns 256,174 shares of the company's stock, valued at $11,794,250.96. This trade represents a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,863 shares of company stock worth $9,689,847 over the last ninety days. 5.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PTGX. Pacer Advisors Inc. increased its holdings in shares of Protagonist Therapeutics by 405,061.2% in the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company's stock valued at $78,034,000 after buying an additional 1,733,662 shares in the last quarter. State Street Corp grew its holdings in shares of Protagonist Therapeutics by 52.9% in the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company's stock worth $143,259,000 after acquiring an additional 1,101,218 shares during the last quarter. Millennium Management LLC raised its position in shares of Protagonist Therapeutics by 2,135.6% during the second quarter. Millennium Management LLC now owns 958,283 shares of the company's stock worth $33,205,000 after purchasing an additional 915,418 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock valued at $14,437,000 after purchasing an additional 310,804 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its position in shares of Protagonist Therapeutics by 27.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company's stock valued at $43,962,000 after purchasing an additional 274,412 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

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.