Protagonist Therapeutics (NASDAQ:PTGX) Earns Neutral Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report issued on Friday morning, Marketbeat reports. The firm issued a neutral rating and a $47.00 target price on the stock.

A number of other research analysts also recently weighed in on PTGX. Wedbush reiterated an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Truist Financial began coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, BMO Capital Markets began coverage on shares of Protagonist Therapeutics in a research note on Friday. They set an “outperform” rating and a $62.00 target price for the company. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Protagonist Therapeutics currently has an average rating of “Buy” and a consensus price target of $53.78.

Protagonist Therapeutics Trading Up 0.9 %

PTGX opened at $42.06 on Friday. The stock has a market capitalization of $2.51 billion, a PE ratio of 15.81 and a beta of 2.18. Protagonist Therapeutics has a 1-year low of $19.00 and a 1-year high of $48.89. The firm has a 50-day moving average price of $44.76 and a two-hundred day moving average price of $40.25.

Insiders Place Their Bets

In other news, insider Arturo Md Molina sold 1,906 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the sale, the insider now owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. This represents a 3.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suneel Gupta sold 103,437 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the sale, the insider now owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. The trade was a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,066 shares of company stock worth $10,681,738 in the last ninety days. 5.40% of the stock is currently owned by insiders.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System bought a new position in Protagonist Therapeutics during the 3rd quarter valued at about $1,107,000. Seven Eight Capital LP lifted its holdings in Protagonist Therapeutics by 426.9% in the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after acquiring an additional 29,810 shares during the period. Bank of New York Mellon Corp boosted its position in Protagonist Therapeutics by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock worth $7,079,000 after purchasing an additional 17,065 shares during the last quarter. Swedbank AB purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at about $2,250,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Protagonist Therapeutics by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock valued at $25,448,000 after purchasing an additional 39,850 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other 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.