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

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) has earned an average recommendation of "Buy" from the nine analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $55.89.

Several research firms recently commented on PTGX. JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. JMP Securities reiterated a "market outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. The Goldman Sachs Group reduced their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. StockNews.com lowered shares of Protagonist Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Finally, Wedbush reiterated an "outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 21st.

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Protagonist Therapeutics Trading Down 1.8 %

Shares of PTGX traded down $0.70 during mid-day trading on Thursday, hitting $38.35. The company's stock had a trading volume of 1,598,931 shares, compared to its average volume of 702,881. The company's 50-day moving average is $37.85 and its 200-day moving average is $41.72. Protagonist Therapeutics has a 52-week low of $24.22 and a 52-week high of $48.89. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 14.42 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The firm had revenue of $170.64 million during the quarter, compared to analysts' expectations of $56.65 million. As a group, sell-side analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the sale, the chief executive officer now owns 540,260 shares in the company, valued at $20,627,126.80. This represents a 0.98 % 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. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in PTGX. Creative Planning acquired a new stake in shares of Protagonist Therapeutics in the third quarter worth $338,000. New York State Teachers Retirement System acquired a new stake in shares of Protagonist Therapeutics in the third quarter worth $1,107,000. Janney Montgomery Scott LLC acquired a new stake in shares of Protagonist Therapeutics in the third quarter worth $866,000. Amalgamated Bank increased its stake in shares of 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 during the period. Finally, Financial Enhancement Group LLC acquired a new stake in shares of Protagonist Therapeutics in the third quarter worth $1,882,000. Institutional investors and hedge funds 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.