Protagonist Therapeutics’ (PTGX) Buy Rating Reiterated at HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $80.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 97.05% from the company’s previous close.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Truist Financial lifted their price target on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. The Goldman Sachs Group reduced their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. BMO Capital Markets lifted their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Finally, Wedbush restated an “outperform” rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Two investment 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 stock. Based on data from MarketBeat, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $65.44.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX traded down $1.97 on Thursday, reaching $40.60. The stock had a trading volume of 734,545 shares, compared to its average volume of 824,125. The business’s 50-day moving average price is $43.88 and its 200 day moving average price is $42.81. Protagonist Therapeutics has a 12-month low of $24.22 and a 12-month high of $60.60. The stock has a market cap of $2.49 billion, a P/E ratio of 15.23 and a beta of 2.30.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly 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. The firm had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. On average, sell-side analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

Insider Activity

In related news, insider Arturo Md Molina sold 30,514 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the sale, the insider now owns 83,892 shares of the company’s stock, valued at $4,676,140.08. This represents a 26.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William D. Waddill sold 4,000 shares of the stock in a transaction dated Monday, March 17th. The shares were 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 owns 13,130 shares of the company’s stock, valued at $712,302.50. This represents a 23.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,776 shares of company stock valued at $3,585,010. Insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new stake in Protagonist Therapeutics during the fourth quarter worth approximately $38,000. GF Fund Management CO. LTD. purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter worth approximately $48,000. Covestor Ltd increased its holdings in Protagonist Therapeutics by 5,200.0% in 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 last quarter. KBC Group NV boosted its position in Protagonist Therapeutics by 54.4% during the fourth 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 acquired a new position in shares of Protagonist Therapeutics during the 4th quarter worth about $118,000. 98.63% of the stock is owned by institutional investors and hedge funds.

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.