Protagonist Therapeutics (NASDAQ:PTGX) Upgraded by Wolfe Research to “Strong-Buy” Rating

Wolfe Research upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) to a strong-buy rating in a report published on Thursday,Zacks.com reports.

A number of other research analysts also recently weighed in on PTGX. HC Wainwright increased 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. Johnson Rice reissued a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. Citizens Jmp upped their price target on Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. Barclays upped their price target on Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Protagonist Therapeutics in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $115.21.

Protagonist Therapeutics Trading Up 1.1%

Shares of NASDAQ:PTGX opened at $102.01 on Thursday. The stock has a fifty day simple moving average of $101.23 and a two-hundred day simple moving average of $91.21. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of -56.36 and a beta of 1.89. Protagonist Therapeutics has a 12-month low of $45.14 and a 12-month high of $107.84.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The firm had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. As a group, equities research analysts predict that Protagonist Therapeutics will post 2.55 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In related news, CFO Asif Ali sold 24,765 shares of the stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $104.24, for a total transaction of $2,581,503.60. Following the completion of the transaction, the chief financial officer directly owned 60,753 shares of the company’s stock, valued at approximately $6,332,892.72. This represents a 28.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Arturo Md Molina sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $104.79, for a total value of $1,571,850.00. Following the sale, the insider owned 84,115 shares in the company, valued at approximately $8,814,410.85. This trade represents a 15.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 254,345 shares of company stock valued at $25,810,506 in the last 90 days. 5.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of PTGX. Farther Finance Advisors LLC increased its holdings in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 156 shares during the period. Greenline Wealth Management LLC purchased a new position in Protagonist Therapeutics during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC increased its holdings in Protagonist Therapeutics by 138.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $36,000 after purchasing an additional 314 shares during the period. Abich Financial Wealth Management LLC purchased a new position in Protagonist Therapeutics during the 3rd quarter worth $62,000. Finally, Osaic Holdings Inc. increased its holdings in Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after purchasing an additional 525 shares during the period. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Company Profile

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.