Protagonist Therapeutics (NASDAQ:PTGX) Now Covered by Analysts at TD Cowen

Stock analysts at TD Cowen initiated coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report issued on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $65.00 price target on the stock. TD Cowen’s target price would indicate a potential upside of 40.85% from the stock’s previous close.

Several other equities analysts have also weighed in on PTGX. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. BTIG Research boosted their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. HC Wainwright increased their target price on Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, JMP Securities reduced their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $49.86.

Protagonist Therapeutics Trading Down 2.5 %

NASDAQ:PTGX opened at $46.15 on Tuesday. The stock has a market capitalization of $2.71 billion, a PE ratio of 18.91 and a beta of 2.17. The firm has a fifty day simple moving average of $41.02 and a 200 day simple moving average of $33.85. Protagonist Therapeutics has a 1-year low of $13.72 and a 1-year high of $48.00.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). The business had revenue of $4.17 million for the quarter, compared to the consensus estimate of $40.00 million. On average, equities analysts predict that Protagonist Therapeutics will post 2.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the transaction, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $540,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. The disclosure for this sale can be found here. Insiders have sold 30,203 shares of company stock valued at $1,311,891 over the last 90 days. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTGX. Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics in the first quarter valued at about $35,000. Lazard Asset Management LLC bought a new stake in shares of Protagonist Therapeutics during the 1st quarter valued at approximately $69,000. Point72 DIFC Ltd acquired a new position in Protagonist Therapeutics during the 2nd quarter worth approximately $153,000. Seven Eight Capital LP bought a new position in Protagonist Therapeutics in the 1st quarter valued at approximately $202,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in Protagonist Therapeutics by 74.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock valued at $263,000 after buying an additional 3,870 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors.

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.