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

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been assigned a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $53.78.

PTGX has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target for the company. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They set a “neutral” rating and a $47.00 target price for the company.

Protagonist Therapeutics Trading Up 0.8 %

Shares of PTGX stock opened at $36.82 on Wednesday. The stock has a 50 day simple moving average of $40.55 and a 200 day simple moving average of $41.62. Protagonist Therapeutics has a 1 year low of $23.17 and a 1 year high of $48.89. The stock has a market cap of $2.19 billion, a P/E ratio of 13.84 and a beta of 2.23.

Insider Activity

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 46,444 shares in the company, valued at approximately $2,076,046.80. This represents a 35.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of Protagonist Therapeutics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the transaction, the chief executive officer now owns 435,208 shares in the company, valued at approximately $20,437,367.68. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,863 shares of company stock valued at $9,689,847. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of hedge funds have recently made changes to their positions in PTGX. Pacer Advisors Inc. raised its holdings in Protagonist Therapeutics by 405,061.2% during the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after purchasing an additional 1,733,662 shares during the last quarter. State Street Corp grew its stake in Protagonist Therapeutics by 52.9% during the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after purchasing an additional 1,101,218 shares during the period. Millennium Management LLC increased its holdings in Protagonist Therapeutics by 2,135.6% in the second quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock worth $33,205,000 after purchasing an additional 915,418 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after buying an additional 310,804 shares during the period. Finally, Perceptive Advisors LLC grew its position in shares of Protagonist Therapeutics by 27.6% during the 2nd quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after buying an additional 274,412 shares during the period. 98.63% of the stock is currently owned by 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.