Protagonist Therapeutics’ (PTGX) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report released on Friday,Benzinga reports. They currently have a $58.00 price target on the stock.

PTGX has been the topic of several other research reports. BMO Capital Markets began coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price objective on the stock. The Goldman Sachs Group started coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set a “neutral” rating and a $47.00 target price on the stock. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research note on Friday. Finally, Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $38.88 on Friday. Protagonist Therapeutics has a one year low of $24.22 and a one year high of $48.89. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 14.62 and a beta of 2.22. The business has a 50-day simple moving average of $38.99 and a 200 day simple moving average of $41.91.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.05. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The firm had revenue of $4.68 million for the quarter, compared to the consensus estimate of $4.50 million. On average, sell-side analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Activity

In related news, insider Suneel Gupta sold 103,437 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the transaction, the insider now owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. This trade represents a 28.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arturo Md Molina sold 1,906 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the sale, the insider now directly owns 46,444 shares in the company, valued at $1,903,275.12. This trade represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,863 shares of company stock valued at $9,689,847 in the last 90 days. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors have recently modified their holdings of PTGX. Squarepoint Ops LLC acquired a new stake in Protagonist Therapeutics in the second quarter valued at approximately $340,000. Cubist Systematic Strategies LLC lifted 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 valued at $2,918,000 after purchasing an additional 78,207 shares during the period. SG Americas Securities LLC lifted its position in Protagonist Therapeutics by 135.0% during 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. GAMMA Investing LLC lifted its position in Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after purchasing an additional 487 shares during the period. Finally, CWM LLC increased its holdings in 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 buying an additional 1,147 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.