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

HC Wainwright reiterated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX - Free Report) in a research report released on Friday,Benzinga reports. The brokerage currently has a $50.00 price objective on the stock.

Other analysts have also recently issued reports about the company. StockNews.com cut Protagonist Therapeutics from a "buy" rating to a "hold" rating in a research report on Tuesday, December 10th. The Goldman Sachs Group assumed coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set a "neutral" rating and a $47.00 price objective for the company. Wedbush reissued an "outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They set an "outperform" rating and a $62.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on Protagonist Therapeutics from $51.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Protagonist Therapeutics Trading Down 2.7 %

PTGX stock traded down $1.04 during trading on Friday, reaching $36.96. 345,651 shares of the stock were exchanged, compared to its average volume of 553,246. The stock has a 50 day simple moving average of $38.89 and a 200-day simple moving average of $41.88. The company has a market capitalization of $2.20 billion, a P/E ratio of 13.86 and a beta of 2.22. Protagonist Therapeutics has a twelve month low of $24.22 and a twelve month high of $48.89.

Insider Activity at Protagonist Therapeutics

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

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds have recently added to or reduced their stakes in PTGX. GAMMA Investing LLC lifted its position in 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. FNY Investment Advisers LLC bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth approximately $38,000. Exchange Traded Concepts LLC acquired a new position in Protagonist Therapeutics in the third quarter valued at approximately $43,000. CWM LLC boosted its stake in Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company's stock valued at $57,000 after acquiring an additional 1,147 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Protagonist Therapeutics during the 3rd quarter worth $69,000. Institutional investors 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.