HC Wainwright Reaffirms Buy Rating for Protagonist Therapeutics (NASDAQ:PTGX)

HC Wainwright reaffirmed their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX - Free Report) in a report published on Monday,Benzinga reports. The firm currently has a $54.00 price target on the stock.

Several other analysts have also commented on the company. The Goldman Sachs Group dropped their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, February 24th. StockNews.com lowered shares of Protagonist Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. BMO Capital Markets assumed coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set an "outperform" rating and a $62.00 price target on the stock. Finally, JMP Securities reiterated a "market outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $55.89.

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Protagonist Therapeutics Trading Up 1.6 %

Shares of PTGX stock traded up $0.60 during trading hours on Monday, hitting $39.05. The company's stock had a trading volume of 1,033,291 shares, compared to its average volume of 699,716. The stock has a market cap of $2.40 billion, a PE ratio of 14.68 and a beta of 2.34. Protagonist Therapeutics has a 12-month low of $24.22 and a 12-month high of $48.89. The company has a 50 day moving average of $37.87 and a 200 day moving average of $41.76.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating the consensus estimate of ($0.09) by $2.07. The company had revenue of $170.64 million for the quarter, compared to analyst estimates of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, analysts anticipate that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business's stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTGX. Franklin Resources Inc. lifted its stake in shares of Protagonist Therapeutics by 127.2% in the third quarter. Franklin Resources Inc. now owns 81,591 shares of the company's stock worth $3,782,000 after buying an additional 45,674 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Protagonist Therapeutics in the 3rd quarter valued at about $1,107,000. Swedbank AB purchased a new position in Protagonist Therapeutics in the 3rd quarter worth approximately $2,250,000. Charles Schwab Investment Management Inc. lifted its stake in Protagonist Therapeutics by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company's stock worth $25,448,000 after purchasing an additional 39,850 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Protagonist Therapeutics by 3,099.4% during the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company's stock worth $14,437,000 after purchasing an additional 310,804 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company's stock.

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.