Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $51.00 to $53.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 37.59% from the company’s previous close.

PTGX has been the topic of several other research reports. StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, December 10th. Wedbush restated an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. BMO Capital Markets initiated 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. Finally, The Goldman Sachs Group initiated coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $38.52 on Tuesday. The company has a market capitalization of $2.30 billion, a PE ratio of 14.48 and a beta of 2.22. The company’s 50 day moving average price is $39.37 and its two-hundred day moving average price is $41.91. Protagonist Therapeutics has a one year low of $24.22 and a one year high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.05. The firm had revenue of $4.68 million during the quarter, compared to the consensus estimate of $4.50 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. On average, research analysts predict that Protagonist Therapeutics will post 2.28 EPS for the current year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the firm’s stock in a transaction 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 owns 46,444 shares of the company’s stock, valued at approximately $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 approximately $20,437,367.68. The trade was a 15.28 % decrease in their ownership of the stock. 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 insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new stake in Protagonist Therapeutics during the second quarter valued at $340,000. The Manufacturers Life Insurance Company raised its holdings in Protagonist Therapeutics by 27.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,406 shares of the company’s stock worth $3,964,000 after purchasing an additional 24,749 shares during the period. Cubist Systematic Strategies LLC boosted its position in Protagonist Therapeutics by 1,304.5% during the second quarter. Cubist Systematic Strategies LLC now owns 84,202 shares of the company’s stock worth $2,918,000 after purchasing an additional 78,207 shares in the last quarter. SG Americas Securities LLC grew its holdings in Protagonist Therapeutics by 135.0% in the third quarter. SG Americas Securities LLC now owns 25,740 shares of the company’s stock valued at $1,158,000 after purchasing an additional 14,789 shares during the period. Finally, GAMMA Investing LLC increased its position 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 buying an additional 487 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.