Protagonist Therapeutics’ (PTGX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report published on Monday morning,Benzinga reports. HC Wainwright currently has a $54.00 price objective on the stock.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group lowered their price objective on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. JMP Securities restated a “market outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Wedbush restated an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 21st. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, 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 price target on the stock. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.89.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $38.45 on Monday. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 14.45 and a beta of 2.34. The business has a fifty day simple moving average of $37.87 and a two-hundred day simple moving average of $41.76. Protagonist Therapeutics has a 1 year low of $24.22 and a 1 year high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $2.07. The firm had revenue of $170.64 million for the quarter, compared to analysts’ expectations of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, equities analysts anticipate that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at about $38,000. GF Fund Management CO. LTD. acquired a new position in shares of Protagonist Therapeutics in the fourth quarter worth approximately $48,000. Covestor Ltd lifted its stake in shares of Protagonist Therapeutics by 5,200.0% in the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after acquiring an additional 1,612 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Protagonist Therapeutics in the third quarter worth approximately $69,000. Finally, KBC Group NV lifted its stake in shares of Protagonist Therapeutics by 54.4% in the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after acquiring an additional 737 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

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.