Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $102.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective raised by analysts at Citizens Jmp from $69.00 to $102.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective points to a potential upside of 29.62% from the company’s previous close.

PTGX has been the subject of several other research reports. Barclays assumed coverage on Protagonist Therapeutics in a research report on Wednesday, September 17th. They set an “overweight” rating and a $72.00 target price for the company. JMP Securities increased their target price on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a “market outperform” rating in a report on Thursday, August 7th. Citigroup increased their price objective on shares of Protagonist Therapeutics from $72.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 17th. BMO Capital Markets restated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday, October 13th. Finally, Leerink Partners assumed coverage on shares of Protagonist Therapeutics in a research report on Friday, September 12th. They set an “outperform” rating and a $73.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock traded down $1.09 during midday trading on Friday, hitting $78.69. The company had a trading volume of 59,653 shares, compared to its average volume of 1,003,737. The stock has a market cap of $4.90 billion, a PE ratio of 112.07 and a beta of 2.22. Protagonist Therapeutics has a 1-year low of $33.31 and a 1-year high of $93.25. The business’s 50 day simple moving average is $68.13 and its two-hundred day simple moving average is $57.24.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). The business had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%. On average, sell-side analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 12,000 shares of the company’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $81.62, for a total transaction of $979,440.00. Following the completion of the transaction, the director directly owned 5,130 shares of the company’s stock, valued at $418,710.60. This represents a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 20,000 shares of company stock valued at $1,473,440. 4.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in shares of Protagonist Therapeutics during the 2nd quarter worth approximately $27,000. Bessemer Group Inc. increased its stake in shares of Protagonist Therapeutics by 171.0% during the 2nd quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth about $29,000. CWM LLC raised its holdings in shares of Protagonist Therapeutics by 201.5% in the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after purchasing an additional 407 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in Protagonist Therapeutics by 141.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company’s stock valued at $59,000 after purchasing an additional 710 shares during 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.