Protagonist Therapeutics’ (PTGX) “Outperform” Rating Reiterated at Leerink Partners

Leerink Partners reaffirmed their outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report released on Monday, Marketbeat.com reports. The firm currently has a $190.00 target price on the stock, up from their previous target price of $150.00.

PTGX has been the topic of several other reports. Zacks Research lowered Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. BMO Capital Markets boosted their price target on shares of Protagonist Therapeutics from $178.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, September 1st. Wall Street Zen downgraded shares of Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 10th. Wedbush upped their price target on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Finally, Truist Financial increased their price objective on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $154.44.

Protagonist Therapeutics Stock Down 1.6%

Shares of NASDAQ PTGX opened at $136.28 on Monday. The firm’s 50-day moving average price is $145.92 and its two-hundred day moving average price is $124.65. Protagonist Therapeutics has a 52-week low of $73.08 and a 52-week high of $160.81. The stock has a market capitalization of $8.82 billion, a P/E ratio of 132.31 and a beta of 1.53.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.27 by $0.02. The company had revenue of $213.47 million during the quarter, compared to analyst estimates of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%. The firm’s revenue for the quarter was up 3746.8% compared to the same quarter last year. As a group, equities research analysts expect that Protagonist Therapeutics will post 4.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Dinsesh Patel sold 65,761 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $149.11, for a total value of $9,805,622.71. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at $78,055,804.58. This represents a 11.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $141.78, for a total value of $8,312,419.62. Following the completion of the sale, the chief financial officer owned 59,003 shares in the company, valued at approximately $8,365,445.34. This represents a 49.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 283,629 shares of company stock valued at $41,443,786 over the last three months. Corporate insiders own 5.19% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Institutional investors have recently made changes to their positions in the stock. Keating Financial Advisory Services Inc. bought a new position in shares of Protagonist Therapeutics in the second quarter valued at $30,000. Allworth Financial LP bought a new stake in shares of Protagonist Therapeutics during the 2nd quarter worth $31,000. Quantbot Technologies LP bought a new stake in shares of Protagonist Therapeutics during the 2nd quarter worth $42,000. Harbor Investment Advisory LLC acquired a new position in shares of Protagonist Therapeutics in the 2nd quarter worth $89,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Protagonist Therapeutics by 63.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock worth $96,000 after acquiring an additional 352 shares during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ:PTGX) is a clinical-stage biopharmaceutical company focused on developing peptide-based medicines for chronic immune-mediated and hematologic diseases. The company uses its proprietary technology platform to design peptides intended to selectively interact with disease-relevant biological targets.

Protagonist’s pipeline includes icotrokinra, formerly known as JNJ-2113, an investigational oral peptide that selectively targets the interleukin-23 receptor.