Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Consensus Rating of “Buy” by Brokerages

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been assigned an average rating of “Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $53.57.

Several brokerages have weighed in on PTGX. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. JMP Securities lowered their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Truist Financial assumed 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.

Protagonist Therapeutics Trading Down 1.2 %

Shares of NASDAQ:PTGX opened at $43.26 on Tuesday. The company has a market capitalization of $2.58 billion, a PE ratio of 16.26 and a beta of 2.17. The business’s fifty day simple moving average is $45.09 and its 200-day simple moving average is $39.97. Protagonist Therapeutics has a 12-month low of $18.07 and a 12-month high of $48.89.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at $540,000. This trade represents a 40.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the sale, the chief executive officer now directly owns 435,208 shares in the company, valued at approximately $20,437,367.68. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,066 shares of company stock worth $10,681,738 over the last quarter. Insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in shares of Protagonist Therapeutics by 405,061.2% during the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after purchasing an additional 1,733,662 shares during the period. State Street Corp boosted its holdings in Protagonist Therapeutics by 52.9% during the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after buying an additional 1,101,218 shares in the last quarter. Millennium Management LLC grew its position in Protagonist Therapeutics by 2,135.6% during the second quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock valued at $33,205,000 after buying an additional 915,418 shares during the period. Perceptive Advisors LLC grew its position in Protagonist Therapeutics by 27.6% during the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock valued at $43,962,000 after buying an additional 274,412 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Protagonist Therapeutics by 813.4% in the second quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock valued at $10,307,000 after buying an additional 264,900 shares in the last quarter. 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.