Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $54.00 at HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective increased by HC Wainwright from $50.00 to $54.00 in a research note published on Monday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday. JMP Securities reiterated a “market outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Protagonist Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $55.44.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $36.00 on Monday. The company’s 50 day moving average price is $38.37 and its 200 day moving average price is $41.93. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 13.53 and a beta of 2.22. Protagonist Therapeutics has a fifty-two week low of $24.22 and a fifty-two week high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. The company had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Equities analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Activity

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the sale, the insider now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the transaction, the chief executive officer now owns 540,260 shares in the company, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds have recently modified their holdings of PTGX. FNY Investment Advisers LLC acquired a new position in Protagonist Therapeutics in the 4th quarter valued at $38,000. GF Fund Management CO. LTD. purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at about $48,000. 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 acquiring an additional 1,147 shares in the last quarter. Covestor Ltd increased its stake in shares of Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after acquiring an additional 1,612 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in Protagonist Therapeutics during the third quarter worth about $69,000. 98.63% of the stock is owned by institutional investors and hedge funds.

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.