Analysts Set Protagonist Therapeutics, Inc. (NASDAQ:PTGX) PT at $56.00

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) have been assigned an average rating of "Buy" from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $56.00.

PTGX has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They issued an "outperform" rating and a $62.00 target price on the stock. JMP Securities restated a "market outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. HC Wainwright restated a "buy" rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. Wedbush restated an "outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th.

Protagonist Therapeutics Trading Up 1.2 %

PTGX stock traded up $0.43 during midday trading on Friday, hitting $37.42. The stock had a trading volume of 421,704 shares, compared to its average volume of 568,979. The firm has a market cap of $2.23 billion, a P/E ratio of 14.07 and a beta of 2.22. Protagonist Therapeutics has a 1-year low of $24.22 and a 1-year high of $48.89. The business has a fifty day moving average price of $38.80 and a two-hundred day moving average price of $41.86.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 1,906 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the sale, the insider now directly owns 46,444 shares of the company's stock, valued at approximately $1,903,275.12. This represents a 3.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the sale, the chief executive officer now directly owns 435,208 shares of the company's stock, valued at $20,437,367.68. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,863 shares of company stock valued at $9,689,847 over the last three months. Corporate insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC boosted its stake in Protagonist Therapeutics by 1,304.5% in the second quarter. Cubist Systematic Strategies LLC now owns 84,202 shares of the company's stock valued at $2,918,000 after acquiring an additional 78,207 shares during the last quarter. GAMMA Investing LLC boosted 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 acquiring an additional 487 shares during the last quarter. 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 during the last quarter. Inspire Investing LLC boosted its stake in Protagonist Therapeutics by 256.8% in the third quarter. Inspire Investing LLC now owns 36,514 shares of the company's stock valued at $1,643,000 after acquiring an additional 26,280 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Protagonist Therapeutics in the third quarter valued at about $43,000. 98.63% of the stock is owned by institutional investors.

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.