Protagonist Therapeutics (NASDAQ:PTGX) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) to a hold rating in a report issued on Thursday,Zacks.com reports.

PTGX has been the topic of a number of other reports. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. BMO Capital Markets assumed coverage on shares of Protagonist Therapeutics in a research report on Friday. They set an “outperform” rating and a $62.00 target price for the company. JMP Securities decreased their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $53.78.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $42.06 on Thursday. The company has a market capitalization of $2.51 billion, a P/E ratio of 15.81 and a beta of 2.18. The company’s 50-day simple moving average is $44.76 and its two-hundred day simple moving average is $40.19. Protagonist Therapeutics has a one year low of $19.00 and a one year high of $48.89.

Insider Activity

In other news, insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the sale, the insider now owns 46,444 shares in the company, valued at $1,903,275.12. This trade represents a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction dated 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 in the company, valued at approximately $540,000. This trade represents a 40.00 % decrease in their position. 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 90 days. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Protagonist Therapeutics

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after buying an additional 487 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Protagonist Therapeutics in the third quarter worth about $43,000. CWM LLC lifted its stake in shares of Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after buying an additional 1,147 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Protagonist Therapeutics in the third quarter worth about $69,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Protagonist Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after buying an additional 379 shares in the last quarter. 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.