Protagonist Therapeutics (NASDAQ:PTGX) Sets New 12-Month High at $38.08

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $38.08 and last traded at $38.06, with a volume of 160685 shares traded. The stock had previously closed at $36.10.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $45.00 price objective on shares of Protagonist Therapeutics in a research report on Monday, June 17th. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, June 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Protagonist Therapeutics Stock Up 6.0 %

The company’s fifty day moving average price is $32.88 and its 200 day moving average price is $29.21. The company has a market capitalization of $2.24 billion, a P/E ratio of 15.69 and a beta of 2.13.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, May 7th. The company reported $3.26 EPS for the quarter, topping the consensus estimate of $2.51 by $0.75. The business had revenue of $254.95 million for the quarter, compared to the consensus estimate of $300.00 million. Research analysts predict that Protagonist Therapeutics, Inc. will post 2.28 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $35.00, for a total value of $280,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $420,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $35.00, for a total value of $280,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $420,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 35,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the completion of the transaction, the chief executive officer now directly owns 515,415 shares in the company, valued at $18,137,453.85. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of PTGX. Russell Investments Group Ltd. bought a new stake in shares of Protagonist Therapeutics during the first quarter worth $35,000. Lazard Asset Management LLC bought a new stake in shares of Protagonist Therapeutics during the first quarter worth $69,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Protagonist Therapeutics by 353.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,675 shares of the company’s stock worth $153,000 after buying an additional 5,202 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Protagonist Therapeutics during the first quarter worth $202,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth $210,000. Institutional investors own 98.63% of the company’s stock.

About Protagonist Therapeutics

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.