Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $118.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective hoisted by Jefferies Financial Group from $95.00 to $118.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

PTGX has been the topic of several other reports. JPMorgan Chase & Co. raised their price target on Protagonist Therapeutics from $68.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. HC Wainwright raised their target price on Protagonist Therapeutics from $80.00 to $117.00 and gave the company a “buy” rating in a report on Friday, January 30th. Citizens Jmp upped their price target on Protagonist Therapeutics from $69.00 to $102.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. BMO Capital Markets reissued an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday, October 13th. Finally, BTIG Research reaffirmed a “buy” rating and set a $82.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.64.

Protagonist Therapeutics Stock Down 2.7%

Protagonist Therapeutics stock opened at $83.30 on Monday. The stock has a market cap of $5.21 billion, a P/E ratio of 134.36 and a beta of 2.26. Protagonist Therapeutics has a 12 month low of $33.70 and a 12 month high of $96.54. The company’s fifty day simple moving average is $85.95 and its 200-day simple moving average is $73.42.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. The business had revenue of $4.71 million during the quarter, compared to analyst estimates of $5.41 million. On average, equities research analysts expect that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 5,000 shares of the stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $82.00, for a total value of $410,000.00. Following the sale, the insider directly owned 84,115 shares in the company, valued at approximately $6,897,430. This trade represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Asif Ali sold 46,203 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $83.13, for a total value of $3,840,855.39. Following the completion of the sale, the chief financial officer owned 60,320 shares of the company’s stock, valued at $5,014,401.60. This trade represents a 43.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 165,167 shares of company stock worth $13,732,039. 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 made changes to their positions in PTGX. Vanguard Group Inc. grew its position in shares of Protagonist Therapeutics by 27.2% during the 4th quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock worth $472,832,000 after purchasing an additional 1,156,461 shares in the last quarter. Marshall Wace LLP acquired a new stake in Protagonist Therapeutics during the third quarter worth approximately $72,114,000. Commodore Capital LP bought a new position in Protagonist Therapeutics during the 2nd quarter worth $59,415,000. UBS Group AG raised its holdings in Protagonist Therapeutics by 46.1% in the 4th quarter. UBS Group AG now owns 2,770,021 shares of the company’s stock valued at $241,934,000 after acquiring an additional 874,013 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Protagonist Therapeutics by 83.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,908,446 shares of the company’s stock valued at $126,778,000 after acquiring an additional 870,708 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.