Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $53.78 Consensus PT from Brokerages

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) has received an average recommendation of "Buy" from the nine brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $53.78.

Several research firms recently commented on PTGX. Wedbush reaffirmed an "outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. TD Cowen raised Protagonist Therapeutics to a "strong-buy" rating in a report on Wednesday, September 25th. The Goldman Sachs Group assumed coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They issued a "neutral" rating and a $47.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, December 10th. Finally, StockNews.com lowered Protagonist Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX traded up $1.27 on Wednesday, reaching $37.94. 699,339 shares of the company's stock were exchanged, compared to its average volume of 619,615. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 14.26 and a beta of 2.23. The stock has a fifty day simple moving average of $40.96 and a 200-day simple moving average of $41.64. Protagonist Therapeutics has a 52 week low of $23.17 and a 52 week high of $48.89.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Suneel Gupta sold 103,437 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the transaction, the insider now owns 256,174 shares of the company's stock, valued at $11,794,250.96. The trade was a 28.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arturo Md Molina sold 1,906 shares of the firm's stock in a transaction 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 sale, the insider now owns 46,444 shares in the company, valued at approximately $1,903,275.12. This trade represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,863 shares of company stock valued at $9,689,847 in the last 90 days. Corporate insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of large investors have recently added to or reduced their stakes in PTGX. GAMMA Investing LLC increased its position in shares of Protagonist Therapeutics by 749.2% during the 3rd 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. FNY Investment Advisers LLC bought a new stake in Protagonist Therapeutics in the 4th quarter worth approximately $38,000. Exchange Traded Concepts LLC purchased a new stake in Protagonist Therapeutics in the third quarter worth approximately $43,000. CWM LLC grew its position in Protagonist Therapeutics by 910.3% during 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. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Protagonist Therapeutics during the third quarter worth approximately $69,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

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.