Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells 54,174 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 54,174 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $145.87, for a total value of $7,902,361.38. Following the completion of the sale, the chief executive officer directly owned 522,968 shares in the company, valued at $76,285,342.16. This represents a 9.39% decrease in their ownership of the stock. 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.

Protagonist Therapeutics Stock Performance

Shares of PTGX traded up $0.07 during midday trading on Thursday, hitting $145.16. 543,127 shares of the stock traded hands, compared to its average volume of 483,614. Protagonist Therapeutics, Inc. has a 1-year low of $57.53 and a 1-year high of $160.81. The firm has a market capitalization of $9.39 billion, a PE ratio of 140.93 and a beta of 1.80. The business’s 50 day moving average price is $142.81 and its two-hundred day moving average price is $116.73.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $212.03 million. The company’s quarterly revenue was up 3746.8% compared to the same quarter last year. As a group, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current fiscal year.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of PTGX. Keating Financial Advisory Services Inc. acquired a new stake in shares of Protagonist Therapeutics in the second quarter valued at $30,000. Allworth Financial LP bought a new stake in shares of Protagonist Therapeutics in the 2nd quarter worth approximately $31,000. Greenline Wealth Management LLC acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at $27,000. Quantbot Technologies LP purchased a new stake in shares of Protagonist Therapeutics during the second quarter valued at $42,000. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Protagonist Therapeutics in the second quarter worth about $89,000. Institutional investors own 98.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PTGX. Wolfe Research reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday, August 31st. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Barclays boosted their price target on Protagonist Therapeutics from $153.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Wedbush increased their price target on Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Finally, BMO Capital Markets raised their price target on Protagonist Therapeutics from $178.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, September 1st. Sixteen research analysts have rated the stock with a Buy rating and two have given a Hold 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 $147.13.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist’s pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.