JMP Securities Cuts Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $28.00

Protagonist Therapeutics (NASDAQ:PTGX – Get Rating) had its target price trimmed by JMP Securities from $31.00 to $28.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other brokerages have also recently issued reports on PTGX. HC Wainwright upped their target price on Protagonist Therapeutics from $33.00 to $38.00 and gave the stock a buy rating in a research report on Thursday. BTIG Research decreased their target price on Protagonist Therapeutics to $41.00 in a research report on Wednesday, November 16th. Finally, StockNews.com initiated coverage on Protagonist Therapeutics in a report on Thursday. They set a hold rating for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $35.50.

Protagonist Therapeutics Stock Down 3.2 %

Shares of Protagonist Therapeutics stock opened at $22.42 on Thursday. The stock has a 50 day moving average price of $16.12 and a two-hundred day moving average price of $11.24. Protagonist Therapeutics has a 12-month low of $6.91 and a 12-month high of $27.41.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PTGX. Legal & General Group Plc raised its stake in shares of Protagonist Therapeutics by 8.4% in the fourth quarter. Legal & General Group Plc now owns 14,408 shares of the company’s stock valued at $157,000 after purchasing an additional 1,118 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Protagonist Therapeutics by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 139,769 shares of the company’s stock valued at $3,310,000 after purchasing an additional 1,275 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Protagonist Therapeutics by 18.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,536 shares of the company’s stock valued at $93,000 after purchasing an additional 1,337 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Protagonist Therapeutics by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,687 shares of the company’s stock valued at $98,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Protagonist Therapeutics by 13.4% in the fourth quarter. Principal Financial Group Inc. now owns 11,738 shares of the company’s stock valued at $128,000 after purchasing an additional 1,389 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Company Profile

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Protagonist Therapeutics, Inc a clinical-stage biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address unmet medical needs. Its product pipeline include PTG-300, PTG-200, and PN-943 The company was founded by Mark L. Smythe on August 22, 2006 and is headquartered in Newark, CA.