Protagonist Therapeutics (NASDAQ:PTGX) Shares Gap Up – Here’s What Happened

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s share price gapped up before the market opened on Monday . The stock had previously closed at $38.35, but opened at $50.08. Protagonist Therapeutics shares last traded at $53.10, with a volume of 1,702,646 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PTGX shares. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 target price for the company. JMP Securities reissued a “market outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 7th. HC Wainwright reissued a “buy” rating and issued a $54.00 target price on shares of Protagonist Therapeutics in a research note on Monday. Wedbush restated an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 21st. Finally, The Goldman Sachs Group cut their price target on 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.33.

Protagonist Therapeutics Price Performance

The business has a 50-day moving average of $37.85 and a 200-day moving average of $41.72. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 21.08 and a beta of 2.34.

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

Insider Activity at Protagonist Therapeutics

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 stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System bought a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at approximately $1,107,000. Janney Montgomery Scott LLC bought a new position in Protagonist Therapeutics during the third quarter worth $866,000. Amalgamated Bank lifted its holdings in Protagonist Therapeutics by 756.4% in the third quarter. Amalgamated Bank now owns 17,324 shares of the company’s stock valued at $780,000 after buying an additional 15,301 shares during the period. Entropy Technologies LP bought a new stake in Protagonist Therapeutics during the third quarter valued at $312,000. Finally, Victory Capital Management Inc. grew its holdings in Protagonist Therapeutics by 1,729.3% during the 3rd quarter. Victory Capital Management Inc. now owns 130,797 shares of the company’s stock worth $5,886,000 after acquiring an additional 123,647 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

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.