Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $98.00.

A number of equities research analysts recently weighed in on the stock. Citizens Jmp raised their target price on shares of Protagonist Therapeutics from $69.00 to $102.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Citigroup raised their price objective on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Truist Financial lifted their price objective on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Jefferies Financial Group upped their target price on shares of Protagonist Therapeutics from $95.00 to $118.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Barclays raised their price target on Protagonist Therapeutics from $88.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th.

Insider Activity

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 13,151 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $82.42, for a total value of $1,083,905.42. Following the completion of the sale, the insider owned 84,115 shares of the company’s stock, valued at $6,932,758.30. This represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 34,438 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $82.48, for a total transaction of $2,840,446.24. Following the transaction, the chief executive officer directly owned 580,505 shares in the company, valued at $47,880,052.40. This trade represents a 5.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 203,167 shares of company stock worth $16,889,199. 4.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors have recently made changes to their positions in PTGX. Royal Bank of Canada raised its position in Protagonist Therapeutics by 30.6% in the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after purchasing an additional 2,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 increased its holdings in shares of Protagonist Therapeutics by 283.6% in the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock worth $6,493,000 after buying an additional 99,269 shares during the period. CWM LLC increased its holdings in shares of Protagonist Therapeutics by 201.5% in the second quarter. CWM LLC now owns 609 shares of the company’s stock worth $34,000 after buying an additional 407 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in shares of Protagonist Therapeutics by 18.9% in the 2nd quarter. New York State Teachers Retirement System now owns 55,713 shares of the company’s stock valued at $3,079,000 after acquiring an additional 8,858 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Down 0.3%

Protagonist Therapeutics stock opened at $87.10 on Thursday. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 140.49 and a beta of 2.26. The business has a 50-day simple moving average of $84.07 and a 200 day simple moving average of $76.51. Protagonist Therapeutics has a 52 week low of $34.81 and a 52 week high of $96.54.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.16). Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. On average, research analysts anticipate that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

About Protagonist Therapeutics

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.