Protagonist Therapeutics (NASDAQ:PTGX) Hits New 1-Year High – Should You Buy?

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) hit a new 52-week high during trading on Wednesday . The company traded as high as $109.24 and last traded at $108.5090, with a volume of 72449 shares traded. The stock had previously closed at $105.87.

Analyst Ratings Changes

A number of brokerages have commented on PTGX. TD Cowen upped their target price on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Leerink Partners upped their target price on shares of Protagonist Therapeutics from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, March 19th. Citizens Jmp increased their target price on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Truist Financial increased their target price on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.21.

Protagonist Therapeutics Stock Performance

The company’s fifty day simple moving average is $101.38 and its 200-day simple moving average is $92.78. The company has a market capitalization of $6.98 billion, a P/E ratio of -60.05 and a beta of 1.85.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The company had revenue of $56.37 million for the quarter, compared to analysts’ expectations of $11.70 million. On average, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.93 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director Bryan Giraudo sold 36,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the completion of the sale, the director directly owned 27,825 shares of the company’s stock, valued at approximately $2,786,395.50. This represents a 56.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Harold E. Selick sold 24,000 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $105.00, for a total transaction of $2,520,000.00. Following the sale, the director directly owned 60,845 shares of the company’s stock, valued at approximately $6,388,725. The trade was a 28.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 263,345 shares of company stock worth $26,707,266 over the last quarter. Corporate insiders own 5.19% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Several hedge funds have recently modified their holdings of PTGX. Royal Bank of Canada lifted its position in shares of Protagonist Therapeutics by 30.6% during the first quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock valued at $482,000 after buying an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after buying an additional 348 shares during the last quarter. Millennium Management LLC lifted its position in shares of Protagonist Therapeutics by 283.6% during the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after buying an additional 99,269 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Protagonist Therapeutics during the second quarter valued at about $987,000. Finally, Guggenheim Capital LLC lifted its position in shares of Protagonist Therapeutics by 1.6% during the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock valued at $1,062,000 after buying an additional 303 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 (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.