Protagonist Therapeutics’ (PTGX) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a $70.00 price target on the stock.

Other equities analysts have also issued research reports about the company. JMP Securities reaffirmed a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Truist Financial increased their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. upped their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $54.00 price target on shares of Protagonist Therapeutics in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.56.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX opened at $48.88 on Friday. The company has a market capitalization of $3.00 billion, a P/E ratio of 18.38 and a beta of 2.34. Protagonist Therapeutics has a 1-year low of $24.22 and a 1-year high of $60.60. The firm’s 50 day simple moving average is $42.54 and its two-hundred day simple moving average is $42.87.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The company had revenue of $170.64 million for the quarter, compared to analysts’ expectations of $56.65 million. On average, sell-side analysts anticipate that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Waddill sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.25, for a total value of $217,000.00. Following the transaction, the director now directly owns 13,130 shares in the company, valued at approximately $712,302.50. This represents a 23.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,776 shares of company stock valued at $3,585,010 in the last three months. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in PTGX. FNY Investment Advisers LLC bought a new position in Protagonist Therapeutics during the 4th quarter valued at about $38,000. GF Fund Management CO. LTD. purchased a new position in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $48,000. Covestor Ltd boosted its position in shares of Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock valued at $63,000 after buying an additional 1,612 shares during the period. KBC Group NV grew its stake in shares of Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after buying an additional 737 shares during the last quarter. Finally, New Vernon Capital Holdings II LLC purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter worth approximately $118,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.