Protagonist Therapeutics (NASDAQ:PTGX) Earns Buy Rating from Analysts at TD Cowen

TD Cowen started coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report sent to investors on Tuesday, MarketBeat reports. The firm issued a buy rating and a $65.00 price target on the stock.

A number of other research firms have also issued reports on PTGX. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a buy rating and a $60.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. JMP Securities cut their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a market outperform rating for the company in a report on Wednesday, August 7th. BTIG Research raised their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Finally, HC Wainwright upped their target price on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a buy rating in a research note on Thursday, September 12th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of $49.86.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $44.93 on Tuesday. Protagonist Therapeutics has a 1-year low of $13.72 and a 1-year high of $48.00. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 18.41 and a beta of 2.17. The firm has a 50 day simple moving average of $41.40 and a 200-day simple moving average of $34.05.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. On average, equities analysts expect that Protagonist Therapeutics will post 2.31 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the firm’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 transaction, the director now directly owns 12,000 shares in the company, valued at approximately $480,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William D. Waddill sold 8,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $480,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,203 shares of company stock worth $1,311,891. 5.40% of the stock is owned by insiders.

Institutional Trading of Protagonist Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. purchased a new position in Protagonist Therapeutics in the first quarter valued at about $35,000. Lazard Asset Management LLC purchased a new stake in shares of Protagonist Therapeutics during the 1st quarter valued at about $69,000. Point72 DIFC Ltd purchased a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at about $153,000. Seven Eight Capital LP acquired a new position in Protagonist Therapeutics during the 1st quarter worth approximately $202,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Protagonist Therapeutics by 74.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after acquiring an additional 3,870 shares during the period. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.