Analysts Set Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Price Target at $53.78

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has earned a consensus rating of “Buy” from the nine brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $53.78.

A number of equities research analysts recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. The Goldman Sachs Group initiated coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set a “neutral” rating and a $47.00 target price on the stock. BMO Capital Markets assumed coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target for the company. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, December 10th. Finally, Truist Financial began coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective for the company.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $40.60 on Friday. The business’s 50 day simple moving average is $44.02 and its 200-day simple moving average is $41.01. Protagonist Therapeutics has a 1 year low of $21.43 and a 1 year high of $48.89. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 15.26 and a beta of 2.18.

Insider Buying and Selling

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the transaction, the insider now directly owns 46,444 shares in the company, valued at $2,076,046.80. This represents a 35.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suneel Gupta sold 103,437 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the transaction, the insider now directly owns 256,174 shares in the company, valued at approximately $11,794,250.96. This trade represents a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 209,863 shares of company stock valued at $9,689,847. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds have recently made changes to their positions in PTGX. GAMMA Investing LLC raised its holdings in shares of Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after acquiring an additional 487 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Protagonist Therapeutics during the 3rd quarter valued at about $43,000. CWM LLC raised its holdings in shares of Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after purchasing an additional 1,147 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $69,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Protagonist Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after purchasing an additional 379 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.