Protagonist Therapeutics (NASDAQ:PTGX) Earns Outperform Rating from Wedbush

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Wedbush in a note issued to investors on Friday,Benzinga reports. They presently have a $70.00 price target on the stock. Wedbush's price objective indicates a potential upside of 45.59% from the company's current price.

Several other equities analysts also recently weighed in on PTGX. HC Wainwright reiterated a "buy" rating and set a $54.00 target price on shares of Protagonist Therapeutics in a research report on Monday, March 10th. Truist Financial upped their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. The Goldman Sachs Group reduced their price objective on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. raised their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Finally, StockNews.com downgraded Protagonist Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.56.

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Protagonist Therapeutics Trading Down 0.6 %

Shares of Protagonist Therapeutics stock traded down $0.28 during mid-day trading on Friday, hitting $48.08. 257,352 shares of the stock were exchanged, compared to its average volume of 796,454. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 18.10 and a beta of 2.34. Protagonist Therapeutics has a twelve month low of $24.22 and a twelve month high of $60.60. The company has a 50-day simple moving average of $42.77 and a 200 day simple moving average of $42.89.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its earnings results on Friday, February 21st. The company reported $1.98 EPS 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. Equities research analysts forecast that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the completion of the sale, the director now directly owns 13,130 shares in the company, valued at approximately $712,302.50. The trade was a 23.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the transaction, the chief executive officer now owns 540,260 shares in the company, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,776 shares of company stock worth $3,585,010 over the last ninety days. Corporate insiders own 5.40% of the company's stock.

Institutional Trading of Protagonist Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PTGX. FNY Investment Advisers LLC acquired a new stake in Protagonist Therapeutics during the fourth quarter worth about $38,000. GF Fund Management CO. LTD. acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $48,000. Covestor Ltd lifted its holdings in shares of Protagonist Therapeutics by 5,200.0% in the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock worth $63,000 after purchasing an additional 1,612 shares during the last quarter. KBC Group NV boosted its position in Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company's stock valued at $81,000 after purchasing an additional 737 shares during the period. Finally, New Vernon Capital Holdings II LLC bought a new position in Protagonist Therapeutics during the 4th quarter worth $118,000. 98.63% of the stock is owned by institutional investors and hedge funds.

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.