Recent Analysts’ Ratings Changes for Protagonist Therapeutics (PTGX)

Protagonist Therapeutics (NASDAQ: PTGX) has recently received a number of price target changes and ratings updates:

• 8/7/2024 – Protagonist Therapeutics had its price target lowered by analysts at JMP Securities from $45.00 to $43.00. They now have a “market outperform” rating on the stock.
• 8/7/2024 – Protagonist Therapeutics had its price target raised by analysts at HC Wainwright from $38.00 to $40.00. They now have a “buy” rating on the stock.
• 7/25/2024 – Protagonist Therapeutics had its price target raised by analysts at JPMorgan Chase & Co. from $39.00 to $48.00. They now have an “overweight” rating on the stock.
• 7/24/2024 – Protagonist Therapeutics had its price target raised by analysts at BTIG Research from $41.00 to $51.00. They now have a “buy” rating on the stock.
• 6/17/2024 – Protagonist Therapeutics had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $45.00 price target on the stock.
• 6/14/2024 – Protagonist Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $38.00 price target on the stock.

Protagonist Therapeutics Stock Down 1.2 %

Shares of NASDAQ:PTGX traded down $0.42 during trading on Wednesday, reaching $35.79. 602,380 shares of the company’s stock traded hands, compared to its average volume of 789,789. Protagonist Therapeutics, Inc. has a fifty-two week low of $13.72 and a fifty-two week high of $42.67. The company has a 50-day simple moving average of $34.55 and a 200-day simple moving average of $30.29. The firm has a market cap of $2.10 billion, a PE ratio of 14.67 and a beta of 2.13.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The company had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. On average, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.24 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $35.00, for a total transaction of $280,000.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at $420,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $35.00, for a total transaction of $280,000.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at $420,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 owns 515,415 shares of the company’s stock, valued at approximately $18,137,453.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,000 shares of company stock worth $1,831,650. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of large investors have recently modified their holdings of the company. TD Asset Management Inc boosted its holdings in shares of Protagonist Therapeutics by 36.7% in the 2nd quarter. TD Asset Management Inc now owns 148,302 shares of the company’s stock valued at $5,139,000 after buying an additional 39,850 shares in the last quarter. Cannon Global Investment Management LLC acquired a new position in Protagonist Therapeutics in the second quarter valued at $2,422,000. Bank of New York Mellon Corp grew its holdings in shares of Protagonist Therapeutics by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock worth $7,079,000 after purchasing an additional 17,065 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Protagonist Therapeutics by 8.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 37,880 shares of the company’s stock valued at $1,313,000 after purchasing an additional 2,985 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at about $379,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.