Truist Financial Increases Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $76.00

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) had its price objective increased by analysts at Truist Financial from $60.00 to $76.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective suggests a potential upside of 32.35% from the stock's previous close.

A number of other analysts have also recently commented on PTGX. Wedbush reaffirmed an "outperform" rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 21st. JMP Securities restated a "market outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. BMO Capital Markets lifted their target price on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group decreased their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. Two 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.22.

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Protagonist Therapeutics Stock Up 2.6 %

NASDAQ PTGX traded up $1.48 on Tuesday, hitting $57.43. The company's stock had a trading volume of 1,163,026 shares, compared to its average volume of 722,952. The firm has a market cap of $3.52 billion, a PE ratio of 21.57 and a beta of 2.34. The company's 50-day moving average is $38.20 and its 200 day moving average is $41.82. Protagonist Therapeutics has a 1-year low of $24.22 and a 1-year high of $58.58.

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

Insiders Place Their Bets

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 owns 540,260 shares in the company, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp raised its stake in shares of Protagonist Therapeutics by 174.6% in the fourth quarter. Mackenzie Financial Corp now owns 21,349 shares of the company's stock valued at $824,000 after buying an additional 13,575 shares during the period. Toronto Dominion Bank bought a new position in shares of Protagonist Therapeutics during the 4th quarter worth $13,162,000. Cache Advisors LLC purchased a new stake in Protagonist Therapeutics in the 4th quarter worth about $392,000. GF Fund Management CO. LTD. bought a new stake in Protagonist Therapeutics in the 4th quarter valued at about $48,000. Finally, Woodline Partners LP lifted its holdings in Protagonist Therapeutics by 24.8% during the fourth quarter. Woodline Partners LP now owns 582,327 shares of the company's stock valued at $22,478,000 after purchasing an additional 115,809 shares during the last quarter. Hedge funds and other 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.

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