Brokerages Set Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Price Target at $82.23

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $83.5385.

A number of brokerages recently issued reports on PTGX. JPMorgan Chase & Co. increased their price objective on Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Johnson Rice set a $112.00 price target on Protagonist Therapeutics in a report on Monday, October 13th. BTIG Research restated a “buy” rating and set a $82.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, October 28th. Citigroup increased their target price on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a research report on Monday. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $95.35 on Friday. Protagonist Therapeutics has a one year low of $33.70 and a one year high of $95.39. The company has a 50-day simple moving average of $81.41 and a 200-day simple moving average of $64.86. The firm has a market capitalization of $5.96 billion, a P/E ratio of 153.79 and a beta of 2.19.

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 firm had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. As a group, sell-side analysts forecast that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 12,000 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $81.62, for a total transaction of $979,440.00. Following the completion of the transaction, the director directly owned 5,130 shares of the company’s stock, valued at approximately $418,710.60. This trade represents a 70.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PTGX. Salomon & Ludwin LLC acquired a new position in Protagonist Therapeutics during the third quarter worth about $29,000. FNY Investment Advisers LLC acquired a new position in shares of Protagonist Therapeutics in the 2nd quarter worth approximately $27,000. Bessemer Group Inc. raised its holdings in shares of Protagonist Therapeutics by 171.0% in the 2nd quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock worth $28,000 after purchasing an additional 318 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Protagonist Therapeutics by 138.9% during the third quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $36,000 after purchasing an additional 314 shares during the last quarter. Finally, CWM LLC lifted its stake in Protagonist Therapeutics by 201.5% during the second quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after purchasing an additional 407 shares during the last quarter. Institutional investors 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.