Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Consensus Recommendation of “Buy” by Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been assigned an average rating of “Buy” from the five research firms that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $42.80.

Several equities analysts recently issued reports on PTGX shares. JPMorgan Chase & Co. lifted their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BTIG Research boosted their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. HC Wainwright boosted their target price on Protagonist Therapeutics from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, JMP Securities decreased their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX opened at $41.44 on Friday. Protagonist Therapeutics has a 1 year low of $13.72 and a 1 year high of $42.67. The stock has a fifty day moving average price of $36.55 and a two-hundred day moving average price of $31.43. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 16.98 and a beta of 2.13.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. On average, analysts predict that Protagonist Therapeutics will post 2.07 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares in the company, valued at $480,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the completion of the sale, the chief executive officer now directly owns 515,415 shares in the company, valued at $18,137,453.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at $480,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,000 shares of company stock worth $1,831,650. 5.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of large investors have recently modified their holdings of PTGX. Farallon Capital Management LLC boosted its holdings in Protagonist Therapeutics by 1.8% in the second quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock valued at $202,383,000 after purchasing an additional 101,800 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Protagonist Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after purchasing an additional 39,055 shares during the period. Kynam Capital Management LP raised its position in shares of Protagonist Therapeutics by 10.2% during the 4th quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock worth $45,972,000 after purchasing an additional 186,218 shares during the period. Perceptive Advisors LLC raised its position in shares of Protagonist Therapeutics by 27.6% during the 2nd quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after purchasing an additional 274,412 shares during the period. Finally, Millennium Management LLC raised its position in shares of Protagonist Therapeutics by 2,135.6% during the 2nd quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock worth $33,205,000 after purchasing an additional 915,418 shares during the period. 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.