The Goldman Sachs Group Begins Coverage on Protagonist Therapeutics (NASDAQ:PTGX)

The Goldman Sachs Group began coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX - Free Report) in a report issued on Friday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $47.00 target price on the stock.

Several other equities analysts have also recently commented on PTGX. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a research note on Friday. They set an "outperform" rating and a $62.00 price objective for the company. StockNews.com upgraded shares of Protagonist Therapeutics from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. Truist Financial began coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They issued a "buy" rating and a $60.00 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Finally, TD Cowen upgraded Protagonist Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $53.78.

Protagonist Therapeutics Stock Up 0.9 %

PTGX traded up $0.38 during trading on Friday, reaching $42.06. 543,409 shares of the company were exchanged, compared to its average volume of 821,530. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 15.81 and a beta of 2.18. Protagonist Therapeutics has a 12-month low of $19.00 and a 12-month high of $48.89. The company's 50-day moving average is $44.76 and its two-hundred day moving average is $40.13.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arturo Md Molina sold 1,906 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the sale, the insider now directly owns 46,444 shares of the company's stock, 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. In the last three months, insiders sold 232,066 shares of company stock worth $10,681,738. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farallon Capital Management LLC increased its holdings in Protagonist Therapeutics by 1.8% during the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company's stock valued at $202,383,000 after purchasing an additional 101,800 shares during the period. RTW Investments LP grew its position in shares of Protagonist Therapeutics by 2.6% in the 3rd quarter. RTW Investments LP now owns 5,426,112 shares of the company's stock worth $244,175,000 after buying an additional 139,708 shares during the last quarter. State Street Corp increased its stake in shares of Protagonist Therapeutics by 52.9% during the third quarter. State Street Corp now owns 3,183,542 shares of the company's stock valued at $143,259,000 after buying an additional 1,101,218 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Protagonist Therapeutics by 405,061.2% during the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company's stock valued at $78,034,000 after acquiring an additional 1,733,662 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Protagonist Therapeutics by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company's stock worth $61,873,000 after acquiring an additional 3,528 shares during the period. 98.63% of the stock is currently owned by institutional investors.

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.