Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $88.00 at Barclays

Protagonist Therapeutics (NASDAQ:PTGX) had its target price lifted by Barclays from $72.00 to $88.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

PTGX has been the subject of several other research reports. Wedbush raised their target price on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Johnson Rice set a $112.00 price target on shares of Protagonist Therapeutics in a research note on Monday, October 13th. BMO Capital Markets reissued an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday, October 13th. Leerink Partnrs raised shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Friday, September 12th. Finally, Citizens Jmp raised their target price on shares of Protagonist Therapeutics from $69.00 to $102.00 and gave the company a “market outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.08.

Protagonist Therapeutics Stock Down 0.3%

Shares of NASDAQ:PTGX traded down $0.24 during midday trading on Friday, reaching $79.54. The company had a trading volume of 882,282 shares, compared to its average volume of 1,586,433. Protagonist Therapeutics has a 1-year low of $33.31 and a 1-year high of $93.25. The stock has a market cap of $4.95 billion, a PE ratio of 128.29 and a beta of 2.22. The business’s 50 day moving average price is $68.54 and its 200 day moving average price is $57.48.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). The company had revenue of $4.71 million during the quarter, compared to the consensus estimate of $5.41 million. Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.78%. On average, research analysts expect that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 12,000 shares of Protagonist Therapeutics stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $81.62, for a total transaction of $979,440.00. Following the completion of the sale, the director owned 5,130 shares of the company’s stock, valued at approximately $418,710.60. The trade was a 70.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 20,000 shares of company stock worth $1,473,440. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC acquired a new position in shares of Protagonist Therapeutics in the third quarter valued at approximately $29,000. FNY Investment Advisers LLC bought a new stake in Protagonist Therapeutics in the 2nd quarter valued at $27,000. Bessemer Group Inc. boosted its stake in Protagonist Therapeutics by 171.0% in the 2nd quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock valued at $28,000 after purchasing an additional 318 shares during the period. CWM LLC grew its holdings in Protagonist Therapeutics by 201.5% in the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after buying an additional 407 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in Protagonist Therapeutics during the 3rd quarter worth $62,000. 98.63% of the stock is currently 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.