Protagonist Therapeutics (NASDAQ:PTGX) Earns Outperform Rating from Wedbush

Protagonist Therapeutics (NASDAQ:PTGX)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report issued on Friday,Benzinga reports. They currently have a $70.00 price objective on the stock. Wedbush’s price target indicates a potential upside of 41.18% from the stock’s current price.

A number of other brokerages also recently commented on PTGX. HC Wainwright reaffirmed a “buy” rating and set a $54.00 target price on shares of Protagonist Therapeutics in a research note on Monday, March 10th. Truist Financial boosted their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a report on Monday, March 3rd. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group lowered their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.56.

Protagonist Therapeutics Stock Up 0.3 %

Protagonist Therapeutics stock opened at $49.58 on Friday. The company’s 50-day moving average price is $42.30 and its 200-day moving average price is $42.87. The company has a market cap of $3.04 billion, a PE ratio of 18.61 and a beta of 2.34. Protagonist Therapeutics has a twelve month low of $24.22 and a twelve month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $2.07. The company had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, sell-side analysts expect that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the transaction, the chief executive officer now owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William D. Waddill sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the transaction, the director now directly owns 13,130 shares in the company, valued at $712,302.50. This represents a 23.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,776 shares of company stock worth $3,585,010 in the last three months. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in Protagonist Therapeutics during the 4th quarter worth about $38,000. GF Fund Management CO. LTD. purchased a new stake in Protagonist Therapeutics in the 4th quarter valued at approximately $48,000. Covestor Ltd lifted its position in Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after buying an additional 1,612 shares during the period. KBC Group NV grew its holdings in shares of Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after purchasing an additional 737 shares during the period. Finally, New Vernon Capital Holdings II LLC purchased a new stake in Protagonist Therapeutics during the 4th quarter worth $118,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Company Profile

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.