Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $76.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price target increased by Truist Financial from $60.00 to $76.00 in a research report report published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

PTGX has been the topic of a number of other research reports. The Goldman Sachs Group reduced their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. JMP Securities reiterated a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a report on Monday, March 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $54.00 price objective on shares of Protagonist Therapeutics in a research note on Monday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.22.

Protagonist Therapeutics Price Performance

PTGX opened at $54.90 on Tuesday. Protagonist Therapeutics has a fifty-two week low of $24.22 and a fifty-two week high of $60.60. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 20.64 and a beta of 2.34. The firm has a 50 day simple moving average of $39.32 and a 200 day simple moving average of $42.15.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating 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 company had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. As a group, analysts expect 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 stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction 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. This trade represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PTGX. Mackenzie Financial Corp grew its holdings in shares of Protagonist Therapeutics by 174.6% in the 4th quarter. Mackenzie Financial Corp now owns 21,349 shares of the company’s stock valued at $824,000 after acquiring an additional 13,575 shares in the last quarter. Toronto Dominion Bank bought a new position in Protagonist Therapeutics in the fourth quarter valued at approximately $13,162,000. Cache Advisors LLC acquired a new position in shares of Protagonist Therapeutics during the 4th quarter worth approximately $392,000. GF Fund Management CO. LTD. bought a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $48,000. Finally, Woodline Partners LP boosted its holdings in shares of Protagonist Therapeutics by 24.8% in the 4th quarter. Woodline Partners LP now owns 582,327 shares of the company’s stock valued at $22,478,000 after buying an additional 115,809 shares during 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.