HC Wainwright Issues Positive Forecast for Protagonist Therapeutics (NASDAQ:PTGX) Stock Price

Protagonist Therapeutics (NASDAQ:PTGX) had its target price lifted by equities research analysts at HC Wainwright from $50.00 to $54.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 39.35% from the company’s previous close.

A number of other research firms have also recently issued reports on PTGX. JPMorgan Chase & Co. raised their target price on Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group began coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They issued a “neutral” rating and a $47.00 price objective for the company. BMO Capital Markets started coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They issued an “outperform” rating and a $62.00 target price for the company. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Wedbush restated an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.44.

Protagonist Therapeutics Stock Up 0.7 %

Shares of NASDAQ:PTGX opened at $38.75 on Monday. The company has a market cap of $2.31 billion, a PE ratio of 14.57 and a beta of 2.22. Protagonist Therapeutics has a fifty-two week low of $24.22 and a fifty-two week high of $48.89. The firm has a 50-day simple moving average of $38.37 and a 200 day simple moving average of $41.93.

Protagonist Therapeutics (NASDAQ:PTGX) last posted 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. The company had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, research analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value 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 $20,627,126.80. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Arturo Md Molina sold 26,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the transaction, the insider now directly owns 46,444 shares in the company, valued at approximately $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTGX. Bank of Montreal Can raised its stake in Protagonist Therapeutics by 4.5% during the 4th quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock valued at $241,000 after purchasing an additional 270 shares during the period. Maryland State Retirement & Pension System raised its position in Protagonist Therapeutics by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock valued at $779,000 after buying an additional 278 shares during the period. Nisa Investment Advisors LLC lifted its stake in Protagonist Therapeutics by 10.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after acquiring an additional 295 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Protagonist Therapeutics by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after acquiring an additional 300 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Protagonist Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after acquiring an additional 379 shares in the last quarter. Institutional investors and hedge funds 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.