Protagonist Therapeutics' (PTGX) "Buy" Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX - Free Report) in a report issued on Monday morning, Marketbeat reports. They currently have a $54.00 target price on the stock.

A number of other research analysts have also recently issued reports on PTGX. The Goldman Sachs Group cut their price objective on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, February 24th. JMP Securities reissued a "market outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Wedbush reissued an "outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 21st. Finally, BMO Capital Markets started coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set an "outperform" rating and a $62.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics has an average rating of "Moderate Buy" and an average target price of $61.22.

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Protagonist Therapeutics Stock Down 4.8 %

PTGX traded down $2.75 during trading on Monday, reaching $54.90. 1,399,160 shares of the company's stock were exchanged, compared to its average volume of 738,684. Protagonist Therapeutics has a fifty-two week low of $24.22 and a fifty-two week high of $60.60. The business has a 50 day moving average price of $39.00 and a 200 day moving average price of $42.06. The company has a market capitalization of $3.37 billion, a P/E ratio of 20.64 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $56.65 million. As a group, research analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the transaction, the chief executive officer now directly owns 540,260 shares in the company, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors have recently modified their holdings of PTGX. Franklin Resources Inc. grew its position in shares of Protagonist Therapeutics by 127.2% in the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company's stock valued at $3,782,000 after purchasing an additional 45,674 shares during the period. Swedbank AB acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at approximately $2,250,000. Charles Schwab Investment Management Inc. grew its position in shares of Protagonist Therapeutics by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company's stock valued at $25,448,000 after purchasing an additional 39,850 shares during the period. Principal Financial Group Inc. grew its position in shares of Protagonist Therapeutics by 3,099.4% in the 3rd 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 period. Finally, Intech Investment Management LLC acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at approximately $861,000. 98.63% of the stock is currently 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.