Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $72.00 at BMO Capital Markets

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective raised by BMO Capital Markets from $62.00 to $72.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

PTGX has been the subject of several other reports. The Goldman Sachs Group cut their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, February 24th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a report on Monday, March 3rd. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. increased their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 21st. Two 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 company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.22.

Protagonist Therapeutics Stock Up 6.8 %

NASDAQ PTGX opened at $59.76 on Tuesday. The stock has a market capitalization of $3.67 billion, a P/E ratio of 22.47 and a beta of 2.34. Protagonist Therapeutics has a 52-week low of $24.22 and a 52-week high of $60.14. The firm has a 50-day moving average price of $38.62 and a 200 day moving average price of $41.95.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) 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 net margin of 52.76% and a return on equity of 34.68%. On average, equities research analysts expect that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Large investors have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new stake in Protagonist Therapeutics during the fourth quarter worth approximately $38,000. GF Fund Management CO. LTD. acquired a new stake in Protagonist Therapeutics during the fourth quarter worth approximately $48,000. Covestor Ltd boosted its position in Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after acquiring an additional 1,612 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Protagonist Therapeutics during the third quarter worth approximately $69,000. Finally, KBC Group NV boosted its position in Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after acquiring an additional 737 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.