Protagonist Therapeutics’ (PTGX) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report issued on Tuesday,Benzinga reports. They currently have a $50.00 price target on the stock.

A number of other research analysts have also recently commented on PTGX. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Truist Financial began coverage on Protagonist Therapeutics in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock. The Goldman Sachs Group began coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, BMO Capital Markets began coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $62.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.78.

Protagonist Therapeutics Trading Down 1.5 %

NASDAQ PTGX opened at $40.38 on Tuesday. The stock’s 50 day moving average is $44.46 and its 200 day moving average is $40.40. Protagonist Therapeutics has a 12 month low of $19.16 and a 12 month high of $48.89. The stock has a market cap of $2.41 billion, a PE ratio of 15.18 and a beta of 2.18.

Insider Activity

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 1,906 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $40.98, for a total value of $78,107.88. Following the transaction, the insider now owns 46,444 shares of the company’s stock, valued at $1,903,275.12. This represents a 3.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.96, for a total value of $3,687,299.20. Following the completion of the transaction, the chief executive officer now directly owns 435,208 shares in the company, valued at $20,437,367.68. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,863 shares of company stock valued at $9,689,847. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds have recently bought and sold shares of PTGX. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Protagonist Therapeutics by 21.6% during the 3rd 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. GAMMA Investing LLC grew its position in shares of Protagonist Therapeutics by 749.2% during the 3rd 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 bought a new position in shares of Protagonist Therapeutics during the 3rd quarter worth $43,000. CWM LLC grew its position in shares of Protagonist Therapeutics by 910.3% during the 3rd 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. Finally, The Manufacturers Life Insurance Company grew its position in shares of Protagonist Therapeutics by 1.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 115,765 shares of the company’s stock worth $5,209,000 after buying an additional 1,359 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

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.