Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $56.00 Average PT from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been given an average recommendation of “Buy” by the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $56.00.

Several brokerages recently issued reports on PTGX. JPMorgan Chase & Co. upped their price objective on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Wedbush reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. JMP Securities reiterated a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Finally, BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 price objective for the company.

Protagonist Therapeutics Trading Down 0.0 %

NASDAQ:PTGX opened at $38.67 on Friday. Protagonist Therapeutics has a 12-month low of $24.22 and a 12-month high of $48.89. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 14.54 and a beta of 2.22. The company’s 50-day moving average is $38.61 and its two-hundred day moving average is $41.83.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Suneel Gupta sold 103,437 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the transaction, the insider now owns 256,174 shares in the company, valued at $11,794,250.96. The trade was a 28.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Arturo Md Molina sold 26,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total value of $1,162,200.00. Following the completion of the sale, the insider now directly owns 46,444 shares of the company’s stock, valued at $2,076,046.80. The trade was a 35.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 207,957 shares of company stock valued at $9,611,739 over the last ninety days. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PTGX. Freestone Grove Partners LP acquired a new position in Protagonist Therapeutics in the 4th quarter worth $256,000. AQR Capital Management LLC increased its position in shares of Protagonist Therapeutics by 9.4% during the fourth quarter. AQR Capital Management LLC now owns 150,097 shares of the company’s stock worth $5,794,000 after acquiring an additional 12,926 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Protagonist Therapeutics by 8.4% in the fourth quarter. Northern Trust Corp now owns 628,580 shares of the company’s stock worth $24,263,000 after acquiring an additional 48,491 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Protagonist Therapeutics by 7.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 124,341 shares of the company’s stock valued at $4,800,000 after purchasing an additional 8,576 shares during the last quarter. Finally, Artia Global Partners LP grew its stake in Protagonist Therapeutics by 136.1% during the 4th quarter. Artia Global Partners LP now owns 293,851 shares of the company’s stock valued at $11,343,000 after purchasing an additional 169,411 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.