Protagonist Therapeutics (NASDAQ:PTGX) Receives "Buy" Rating from HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report)'s stock had its "buy" rating reaffirmed by HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $50.00 target price on the stock. HC Wainwright's target price indicates a potential upside of 7.53% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised Protagonist Therapeutics from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. JMP Securities reduced their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research report on Wednesday, August 7th. Truist Financial initiated coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a "buy" rating and a $60.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. Finally, BTIG Research increased their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Protagonist Therapeutics currently has an average rating of "Buy" and an average price target of $53.57.

Protagonist Therapeutics Trading Up 0.6 %

Shares of NASDAQ:PTGX traded up $0.27 during trading on Monday, reaching $46.50. 558,206 shares of the stock were exchanged, compared to its average volume of 734,662. The firm has a market cap of $2.74 billion, a PE ratio of 17.74 and a beta of 2.17. The stock has a 50-day moving average price of $45.54 and a 200-day moving average price of $38.18. Protagonist Therapeutics has a 12 month low of $15.05 and a 12 month high of $48.89.

Insiders Place Their Bets

In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Asif Ali sold 14,203 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were 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 of the company's stock, valued at $540,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Protagonist Therapeutics by 749.2% in the 3rd 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. Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics during the 1st quarter worth $35,000. Exchange Traded Concepts LLC bought a new position in Protagonist Therapeutics during the 3rd quarter worth $43,000. CWM LLC raised its position in Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company's stock worth $57,000 after purchasing an additional 1,147 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Protagonist Therapeutics during the 1st quarter worth $69,000. 98.63% of the stock is currently owned by institutional investors.

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.