Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $56.00 Average PT from Brokerages

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned a consensus rating of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat 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 12-month price objective among brokers that have issued a report on the stock in the last year is $56.00.

PTGX has been the subject of a number of research reports. JMP Securities reissued a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. JPMorgan Chase & Co. increased their target price on Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Wedbush restated an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th.

Protagonist Therapeutics Stock Down 2.6 %

PTGX opened at $36.99 on Friday. The company has a market capitalization of $2.20 billion, a PE ratio of 13.91 and a beta of 2.22. The firm has a 50-day simple moving average of $38.89 and a two-hundred day simple moving average of $41.88. Protagonist Therapeutics has a 52 week low of $24.22 and a 52 week high of $48.89.

Insider Activity

In related news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 435,208 shares in the company, valued at $20,437,367.68. The trade was a 15.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Arturo Md Molina sold 1,906 shares of the 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 completion of the sale, the insider now owns 46,444 shares in the company, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,863 shares of company stock valued at $9,689,847. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Protagonist Therapeutics

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Protagonist Therapeutics by 749.2% during the 3rd 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. Exchange Traded Concepts LLC bought a new stake in shares of Protagonist Therapeutics during the third quarter valued at approximately $43,000. FNY Investment Advisers LLC bought a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $38,000. CWM LLC boosted its holdings in shares of Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in Protagonist Therapeutics in the third quarter worth approximately $69,000. 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.