Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock Has Consensus Price Target of $158.19 According to Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been given a consensus rating of “Buy” by the seventeen brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $163.27.

Several research analysts have weighed in on PTGX shares. The Goldman Sachs Group upgraded shares of Protagonist Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $186.00 in a research report on Monday, August 10th. Wolfe Research reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday, August 31st. TD Cowen boosted their price target on Protagonist Therapeutics from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. UBS Group began coverage on Protagonist Therapeutics in a research note on Monday, October 12th. They set a “buy” rating and a $184.00 price target on the stock. Finally, Weiss Ratings cut Protagonist Therapeutics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ PTGX opened at $144.34 on Tuesday. The firm has a market capitalization of $9.34 billion, a P/E ratio of 138.00 and a beta of 1.53. Protagonist Therapeutics has a one year low of $75.44 and a one year high of $160.81. The company’s fifty day moving average is $143.04 and its two-hundred day moving average is $116.14.

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, beating 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 during the quarter, compared to the consensus estimate of $212.03 million. The business’s quarterly revenue was up 3746.8% compared to the same quarter last year. On average, sell-side analysts forecast that Protagonist Therapeutics will post 4.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dinsesh Patel sold 65,761 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $149.11, for a total value of $9,805,622.71. Following the completion of the transaction, the chief executive officer owned 523,478 shares in the company, valued at $78,055,804.58. This trade represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total transaction of $8,312,419.62. Following the transaction, the chief financial officer owned 59,003 shares of the company’s stock, valued at approximately $8,365,445.34. The trade was a 49.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 283,629 shares of company stock valued at $41,443,786. Company insiders own 5.19% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Protagonist Therapeutics during the 2nd quarter valued at $1,263,535,000. Janus Henderson Group PLC increased its stake in shares of Protagonist Therapeutics by 9.1% in the first quarter. Janus Henderson Group PLC now owns 2,891,527 shares of the company’s stock worth $304,866,000 after acquiring an additional 241,546 shares during the last quarter. Johnson & Johnson purchased a new stake in shares of Protagonist Therapeutics during the second quarter worth $300,220,852. Jupiter Topco LLC purchased a new stake in shares of Protagonist Therapeutics during the second quarter worth $261,039,000. Finally, Bank of America Corp DE purchased a new stake in shares of Protagonist Therapeutics during the second quarter worth $162,357,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on discovering and developing peptide-based medicines for immune-mediated and hematologic diseases. The company uses its proprietary peptide technology platform to design therapies intended to act on specific biological pathways and receptors.

Its leading program is icotrokinra, also known as JNJ-2113, an oral, targeted inhibitor of the interleukin-23 receptor being developed in collaboration with Janssen Pharmaceuticals for inflammatory and immune-mediated conditions, including psoriasis and inflammatory bowel diseases.