Barclays Raises Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $113.00

Protagonist Therapeutics (NASDAQ:PTGX) had its target price hoisted by Barclays from $108.00 to $113.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 31.34% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. HC Wainwright lifted their price target on shares of Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Citizens Jmp raised their price objective on Protagonist Therapeutics from $102.00 to $112.00 and gave the stock a “market outperform” rating in a research note on Thursday. Citigroup upped their price target on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a report on Monday, December 8th. Truist Financial raised their price objective on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Finally, Weiss Ratings lowered Protagonist Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.25.

Protagonist Therapeutics Trading Down 1.2%

Shares of PTGX stock traded down $1.07 on Thursday, reaching $86.04. 83,309 shares of the company’s stock were exchanged, compared to its average volume of 717,026. The company’s fifty day simple moving average is $84.07 and its 200 day simple moving average is $76.51. The stock has a market capitalization of $5.38 billion, a PE ratio of 139.84 and a beta of 2.26. Protagonist Therapeutics has a 52 week low of $35.95 and a 52 week high of $96.54.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Wednesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.16). The business had revenue of $7.44 million for the quarter, compared to the consensus estimate of $14.92 million. Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%. As a group, sell-side analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Arturo Md Molina sold 13,151 shares of the company’s stock in a transaction 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 34,438 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $82.48, for a total transaction of $2,840,446.24. Following the completion of the sale, the chief executive officer owned 580,505 shares in the company, valued at approximately $47,880,052.40. This trade represents a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 203,167 shares of company stock worth $16,889,199 over the last ninety days. 4.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several large investors have recently made changes to their positions in PTGX. Smartleaf Asset Management LLC increased its holdings in Protagonist Therapeutics by 11.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,403 shares of the company’s stock valued at $91,000 after purchasing an additional 146 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Protagonist Therapeutics by 110.6% during 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. Oregon Public Employees Retirement Fund grew its stake in shares of Protagonist Therapeutics by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,393 shares of the company’s stock valued at $1,170,000 after buying an additional 193 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Protagonist Therapeutics by 2.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company’s stock valued at $751,000 after buying an additional 196 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Protagonist Therapeutics by 8.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,959 shares of the company’s stock worth $258,000 after acquiring an additional 221 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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.