Protagonist Therapeutics’ (PTGX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report released on Monday morning, Marketbeat Ratings reports. They currently have a $54.00 target price on the stock.

Several other research analysts also recently weighed in on PTGX. StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets began coverage on Protagonist Therapeutics in a report on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target for the company. JMP Securities reissued a “market outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. The Goldman Sachs Group lowered their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.22.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $57.65 on Monday. Protagonist Therapeutics has a 1 year low of $24.22 and a 1 year high of $60.60. The company has a market capitalization of $3.54 billion, a P/E ratio of 21.67 and a beta of 2.34. The business has a 50 day moving average price of $39.00 and a 200 day moving average price of $42.06.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $2.07. The company had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, research analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the transaction, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at $20,627,126.80. This represents a 0.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its position in Protagonist Therapeutics by 174.6% in the 4th quarter. Mackenzie Financial Corp now owns 21,349 shares of the company’s stock valued at $824,000 after buying an additional 13,575 shares during the last quarter. Toronto Dominion Bank purchased a new position in Protagonist Therapeutics in the 4th quarter valued at about $13,162,000. Cache Advisors LLC purchased a new position in Protagonist Therapeutics in the 4th quarter valued at about $392,000. GF Fund Management CO. LTD. purchased a new position in Protagonist Therapeutics in the 4th quarter valued at about $48,000. Finally, Woodline Partners LP boosted its position in Protagonist Therapeutics by 24.8% in the 4th quarter. Woodline Partners LP now owns 582,327 shares of the company’s stock valued at $22,478,000 after buying an additional 115,809 shares during the last quarter. 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.