HC Wainwright reaffirmed their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX - Free Report) in a research note released on Tuesday,Benzinga reports. HC Wainwright currently has a $50.00 price objective on the stock.
Several other research analysts have also issued reports on PTGX. TD Cowen upgraded shares of Protagonist Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 25th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a "buy" rating and a $60.00 price target for the company. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a research report on Friday. They set an "outperform" rating and a $62.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Protagonist Therapeutics in a research report on Friday. They set a "neutral" rating and a $47.00 price target for the company. Finally, Wedbush restated an "outperform" rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $53.78.
Check Out Our Latest Report on PTGX
Protagonist Therapeutics Stock Performance
NASDAQ:PTGX traded up $1.10 during trading hours on Tuesday, reaching $41.60. The stock had a trading volume of 593,291 shares, compared to its average volume of 744,852. Protagonist Therapeutics has a 12-month low of $19.00 and a 12-month high of $48.89. The stock has a 50 day simple moving average of $44.67 and a 200 day simple moving average of $40.32. The stock has a market cap of $2.48 billion, a P/E ratio of 15.64 and a beta of 2.18.
Insider Activity
In other news, insider Suneel Gupta sold 103,437 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the sale, the insider now owns 256,174 shares in the company, valued at $11,794,250.96. This represents a 28.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the sale, the chief executive officer now owns 435,208 shares in the company, valued at $20,437,367.68. This represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 224,066 shares of company stock worth $10,321,738 over the last 90 days. 5.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Protagonist Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company's stock valued at $25,000 after purchasing an additional 487 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at $43,000. CWM LLC lifted its stake in shares of Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company's stock valued at $57,000 after buying an additional 1,147 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at $69,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Protagonist Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company's stock valued at $95,000 after buying an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.
Protagonist Therapeutics Company Profile
(
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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.
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