Wedbush Reiterates “Outperform” Rating for Protagonist Therapeutics (NASDAQ:PTGX)

Protagonist Therapeutics (NASDAQ:PTGX)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $58.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 26.36% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. BTIG Research increased their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Truist Financial began coverage on Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company. Finally, HC Wainwright boosted their price target on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $53.57.

Protagonist Therapeutics Stock Down 1.8 %

Shares of NASDAQ:PTGX opened at $45.90 on Monday. Protagonist Therapeutics has a twelve month low of $14.78 and a twelve month high of $48.89. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 17.52 and a beta of 2.17. The business has a 50 day moving average price of $45.27 and a 200 day moving average price of $37.74.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $4.17 million during the quarter, compared to the consensus estimate of $40.00 million. Analysts anticipate that Protagonist Therapeutics will post 2.32 EPS for the current year.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at $540,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GSA Capital Partners LLP increased its stake in shares of Protagonist Therapeutics by 179.8% in the 1st quarter. GSA Capital Partners LLP now owns 55,359 shares of the company’s stock valued at $1,602,000 after buying an additional 35,571 shares during the period. Sei Investments Co. boosted its holdings in Protagonist Therapeutics by 12.2% in the first quarter. Sei Investments Co. now owns 41,758 shares of the company’s stock valued at $1,208,000 after acquiring an additional 4,529 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Protagonist Therapeutics during the 1st quarter worth about $35,000. ProShare Advisors LLC raised its holdings in Protagonist Therapeutics by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock worth $415,000 after purchasing an additional 1,206 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Protagonist Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after purchasing an additional 39,055 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

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.