HC Wainwright Reaffirms “Buy” Rating for Protagonist Therapeutics (NASDAQ:PTGX)

HC Wainwright restated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note published on Monday,Benzinga reports. They currently have a $54.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group lowered their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on Protagonist Therapeutics from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $62.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.89.

Protagonist Therapeutics Price Performance

Protagonist Therapeutics stock opened at $38.45 on Monday. The firm has a market cap of $2.36 billion, a P/E ratio of 14.45 and a beta of 2.34. The stock’s 50 day moving average is $37.87 and its 200 day moving average is $41.76. Protagonist Therapeutics has a one year low of $24.22 and a one year high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $2.07. The business had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Equities analysts anticipate that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the sale, the chief executive officer now owns 540,260 shares in the company, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors have recently bought and sold shares of PTGX. Creative Planning bought a new stake in Protagonist Therapeutics during the third quarter worth $338,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Protagonist Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after purchasing an additional 379 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Protagonist Therapeutics in the third quarter worth $1,107,000. Janney Montgomery Scott LLC purchased a new position in Protagonist Therapeutics in the third quarter worth $866,000. Finally, Amalgamated Bank boosted its position in Protagonist Therapeutics by 756.4% in the third quarter. Amalgamated Bank now owns 17,324 shares of the company’s stock worth $780,000 after purchasing an additional 15,301 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.