Protagonist Therapeutics’ (PTGX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report released on Monday morning,Benzinga reports. HC Wainwright currently has a $54.00 price objective on the stock.

Several other equities analysts have also recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. The Goldman Sachs Group decreased their target price on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. BMO Capital Markets started coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target on the stock. Finally, StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $58.33.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $55.95 on Monday. The company has a 50-day moving average of $38.20 and a two-hundred day moving average of $41.82. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 21.03 and a beta of 2.34. Protagonist Therapeutics has a one year low of $24.22 and a one year high of $57.97.

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. The firm had revenue of $170.64 million for the quarter, compared to analysts’ expectations of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Analysts anticipate that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the sale, the chief executive officer now owns 540,260 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can raised its stake in shares of Protagonist Therapeutics by 4.5% in the 4th quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock valued at $241,000 after buying an additional 270 shares in the last quarter. Maryland State Retirement & Pension System raised its position in Protagonist Therapeutics by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock worth $779,000 after purchasing an additional 278 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Protagonist Therapeutics by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after purchasing an additional 295 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Protagonist Therapeutics by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after purchasing an additional 300 shares during the period. Finally, KBC Group NV boosted its holdings in Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after purchasing an additional 737 shares in the last quarter. 98.63% of the stock is owned by 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.