Protagonist Therapeutics (NASDAQ:PTGX) Sets New 12-Month High – Should You Buy?

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) reached a new 52-week high on Friday . The stock traded as high as $49.00 and last traded at $49.00, with a volume of 413 shares traded. The stock had previously closed at $47.61.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PTGX. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. HC Wainwright raised their price target on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Wedbush restated an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research note on Monday, November 4th. Finally, JMP Securities decreased 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. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $53.57.

Protagonist Therapeutics Stock Performance

The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 17.65 and a beta of 2.17. The company has a fifty day moving average of $45.54 and a two-hundred day moving average of $38.01.

Insider Activity

In other news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $540,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now owns 12,000 shares in the company, valued at $540,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at about $861,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Protagonist Therapeutics during the 3rd quarter worth approximately $5,665,000. Moran Wealth Management LLC raised its stake in Protagonist Therapeutics by 27.6% during the 3rd quarter. Moran Wealth Management LLC now owns 15,030 shares of the company’s stock worth $676,000 after buying an additional 3,250 shares during the period. Segall Bryant & Hamill LLC raised its stake in Protagonist Therapeutics by 1.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 120,301 shares of the company’s stock worth $5,414,000 after buying an additional 1,739 shares during the period. Finally, Quest Partners LLC raised its stake in Protagonist Therapeutics by 885.1% during the 3rd quarter. Quest Partners LLC now owns 23,947 shares of the company’s stock worth $1,078,000 after buying an additional 21,516 shares during the period. 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.