Wedbush Expects Higher Earnings for Protagonist Therapeutics

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) - Investment analysts at Wedbush raised their Q1 2025 earnings per share estimates for shares of Protagonist Therapeutics in a research note issued to investors on Tuesday, November 19th. Wedbush analyst Y. Zhong now forecasts that the company will post earnings of $1.92 per share for the quarter, up from their previous forecast of ($0.64). Wedbush currently has a "Outperform" rating and a $58.00 target price on the stock. The consensus estimate for Protagonist Therapeutics' current full-year earnings is $2.28 per share. Wedbush also issued estimates for Protagonist Therapeutics' FY2025 earnings at ($0.16) EPS.

Several other research analysts also recently weighed in on the stock. TD Cowen raised shares of Protagonist Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 25th. StockNews.com raised shares of Protagonist Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday, August 8th. JMP Securities cut their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating for the company in a research note on Wednesday, August 7th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a "buy" rating and a $60.00 target price for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $53.57.

Protagonist Therapeutics Trading Up 5.2 %

Shares of PTGX stock opened at $40.65 on Thursday. The firm has a 50-day moving average price of $45.43 and a 200 day moving average price of $38.99. Protagonist Therapeutics has a twelve month low of $16.80 and a twelve month high of $48.89. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 15.28 and a beta of 2.17.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Protagonist Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company's stock worth $92,373,000 after purchasing an additional 39,055 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Protagonist Therapeutics during the third quarter worth about $1,107,000. Seven Eight Capital LP increased its holdings in Protagonist Therapeutics by 426.9% in the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company's stock worth $1,275,000 after purchasing an additional 29,810 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Protagonist Therapeutics by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company's stock worth $7,079,000 after purchasing an additional 17,065 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Protagonist Therapeutics during the second quarter valued at approximately $2,112,000. Institutional investors own 98.63% of the company's stock.

Insider Buying and Selling

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 1,906 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the sale, the insider now directly owns 46,444 shares of the company's stock, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now owns 34,960 shares of the company's stock, valued at $1,555,370.40. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,109 shares of company stock valued at $1,069,999. 5.40% of the stock is owned by company insiders.

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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