Protagonist Therapeutics (NASDAQ:PTGX) Price Target Lowered to $38.00 at The Goldman Sachs Group

Protagonist Therapeutics (NASDAQ:PTGX) had its target price lowered by The Goldman Sachs Group from $43.00 to $38.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also commented on PTGX. HC Wainwright upped their price target on Protagonist Therapeutics from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets started coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $62.00 price target for the company. JMP Securities reissued a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Wedbush restated an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.44.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock opened at $36.00 on Monday. Protagonist Therapeutics has a 52 week low of $24.22 and a 52 week high of $48.89. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 13.53 and a beta of 2.22. The company has a 50-day simple moving average of $38.37 and a 200 day simple moving average of $41.93.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate 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. Sell-side analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction dated Wednesday, February 19th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the sale, the insider now directly owns 46,444 shares in the company, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC grew its position 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. Creative Planning purchased a new stake in Protagonist Therapeutics in the third quarter valued at $338,000. Allspring Global Investments Holdings LLC lifted its position in Protagonist Therapeutics by 24,162.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 103,842 shares of the company’s stock valued at $4,673,000 after buying an additional 103,414 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $1,282,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Protagonist Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after buying an additional 379 shares in the last quarter. 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.