Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $147.13 Consensus Target Price from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $147.1333.

PTGX has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. HC Wainwright boosted their price target on Protagonist Therapeutics from $167.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 31st. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. Truist Financial increased their price objective on Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, BMO Capital Markets lifted their price objective on Protagonist Therapeutics from $178.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 1st.

Protagonist Therapeutics Stock Down 0.6%

NASDAQ:PTGX opened at $145.09 on Monday. The company has a fifty day moving average of $142.54 and a 200 day moving average of $116.30. Protagonist Therapeutics has a 52 week low of $57.13 and a 52 week high of $160.81. The firm has a market capitalization of $9.39 billion, a P/E ratio of 140.87 and a beta of 1.80.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The business had revenue of $213.47 million for the quarter, compared to analyst estimates of $212.03 million. The company’s revenue for the quarter was up 3746.8% on a year-over-year basis. As a group, analysts anticipate that Protagonist Therapeutics will post 4.22 EPS for the current year.

Insider Buying and Selling

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $78,055,804.58. The trade was a 11.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the transaction, the director directly owned 7,825 shares in the company, valued at approximately $922,880.50. The trade was a 53.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 109,000 shares of company stock valued at $15,952,259. 5.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Keating Financial Advisory Services Inc. purchased a new position in shares of Protagonist Therapeutics during the second quarter valued at about $30,000. Allworth Financial LP bought a new position in Protagonist Therapeutics in the second quarter worth about $31,000. Farther Finance Advisors LLC lifted its holdings in Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after buying an additional 156 shares during the period. Greenline Wealth Management LLC purchased a new stake in Protagonist Therapeutics in the fourth quarter worth about $27,000. Finally, Quantbot Technologies LP purchased a new stake in Protagonist Therapeutics in the second quarter worth about $42,000. 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.