JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics (NASDAQ:PTGX) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $53.00 to $57.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 48.24% from the stock’s current price.

Several other brokerages have also recently weighed in on PTGX. Wedbush reissued an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 21st. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets began coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 target price for the company. HC Wainwright restated a “buy” rating and set a $54.00 target price on shares of Protagonist Therapeutics in a research report on Monday. Finally, JMP Securities restated a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.89.

Protagonist Therapeutics Trading Down 0.5 %

Shares of NASDAQ:PTGX opened at $38.45 on Tuesday. The stock has a market capitalization of $2.36 billion, a P/E ratio of 14.45 and a beta of 2.34. Protagonist Therapeutics has a 1-year low of $24.22 and a 1-year high of $48.89. The business has a 50-day moving average price of $37.87 and a two-hundred day moving average price of $41.76.

Protagonist Therapeutics (NASDAQ:PTGX) last announced 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. The firm had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, equities analysts predict that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 540,260 shares in the company, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

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