JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $51.00 to $53.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 40.40% from the company's current price.

Several other equities analysts have also commented on the stock. The Goldman Sachs Group initiated coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set a "neutral" rating and a $47.00 price objective for the company. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They set an "outperform" rating and a $62.00 price objective on the stock. Wedbush reaffirmed an "outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. HC Wainwright reissued a "buy" rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, December 10th. Finally, StockNews.com lowered Protagonist Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th. Two 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 company's stock. According to data from MarketBeat.com, Protagonist Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $54.33.

Protagonist Therapeutics Stock Down 2.0 %

Protagonist Therapeutics stock traded down $0.77 during midday trading on Tuesday, reaching $37.75. 528,156 shares of the stock traded hands, compared to its average volume of 547,523. The stock has a market cap of $2.25 billion, a P/E ratio of 14.19 and a beta of 2.22. The stock's fifty day moving average is $39.24 and its 200-day moving average is $41.89. Protagonist Therapeutics has a 12 month low of $24.22 and a 12 month high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.54) EPS for the quarter, beating analysts' consensus estimates of ($0.59) by $0.05. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The firm had revenue of $4.68 million during the quarter, compared to the consensus estimate of $4.50 million. On average, equities analysts predict that Protagonist Therapeutics will post 2.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Arturo Md Molina sold 26,000 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the sale, the insider now owns 46,444 shares of the company's stock, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Suneel Gupta sold 103,437 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the completion of the transaction, the insider now owns 256,174 shares of the company's stock, valued at $11,794,250.96. This represents a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,863 shares of company stock valued at $9,689,847 over the last three months. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors have recently bought and sold shares of PTGX. GAMMA Investing LLC increased its holdings in shares of Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company's stock valued at $25,000 after acquiring an additional 487 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Protagonist Therapeutics during the 4th quarter valued at approximately $38,000. Exchange Traded Concepts LLC purchased a new position in shares of Protagonist Therapeutics in the third quarter worth $43,000. CWM LLC raised its holdings in shares of Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company's stock worth $57,000 after buying an additional 1,147 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Protagonist Therapeutics during the third quarter valued at $69,000. 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.