Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $55.89 Average Price Target from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the stock, 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 1-year price objective among brokers that have updated their coverage on the stock in the last year is $55.89.

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lowered their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, February 24th. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $54.00 target price on shares of Protagonist Therapeutics in a report on Monday, March 3rd.

Insider Transactions at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 540,260 shares in the company, valued at approximately $20,627,126.80. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds have recently bought and sold shares of PTGX. Pacer Advisors Inc. lifted its stake in Protagonist Therapeutics by 405,061.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock valued at $78,034,000 after purchasing an additional 1,733,662 shares during the last quarter. State Street Corp lifted its stake in Protagonist Therapeutics by 52.9% in the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after purchasing an additional 1,101,218 shares during the last quarter. Deep Track Capital LP acquired a new stake in Protagonist Therapeutics in the 4th quarter valued at about $38,600,000. Wellington Management Group LLP lifted its stake in Protagonist Therapeutics by 3,025.4% in the 4th quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock valued at $36,287,000 after purchasing an additional 909,998 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Protagonist Therapeutics by 61.5% in the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock valued at $35,832,000 after purchasing an additional 353,511 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $38.35 on Thursday. Protagonist Therapeutics has a 52-week low of $24.22 and a 52-week high of $48.89. The company’s fifty day moving average price is $37.85 and its two-hundred day moving average price is $41.72. The firm has a market capitalization of $2.35 billion, a PE ratio of 14.42 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last released 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. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The business had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. Analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

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.