Maryland State Retirement & Pension System Raises Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Maryland State Retirement & Pension System lifted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,170 shares of the company’s stock after acquiring an additional 278 shares during the period. Maryland State Retirement & Pension System’s holdings in Protagonist Therapeutics were worth $779,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mutual of America Capital Management LLC purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at approximately $399,000. Thrivent Financial for Lutherans acquired a new stake in Protagonist Therapeutics during the third quarter worth $2,082,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Protagonist Therapeutics in the third quarter valued at $5,665,000. Intech Investment Management LLC acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at $861,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Protagonist Therapeutics by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock worth $25,448,000 after purchasing an additional 39,850 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $54.00 price objective on shares of Protagonist Therapeutics in a report on Monday, March 10th. JPMorgan Chase & Co. upped their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. The Goldman Sachs Group lowered their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Wedbush restated an “outperform” rating and set a $70.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.56.

Protagonist Therapeutics Trading Down 0.2 %

Shares of NASDAQ PTGX opened at $52.53 on Tuesday. The stock has a market cap of $3.22 billion, a P/E ratio of 19.75 and a beta of 2.34. The business’s fifty day simple moving average is $41.52 and its 200-day simple moving average is $42.70. Protagonist Therapeutics, Inc. has a 12-month low of $24.22 and a 12-month high of $60.60.

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

Insider Transactions at Protagonist Therapeutics

In related news, CFO Asif Ali sold 24,903 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total value of $1,462,553.19. Following the completion of the sale, the chief financial officer now directly owns 62,821 shares of the company’s stock, valued at $3,689,477.33. The trade was a 28.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arturo Md Molina sold 30,514 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the transaction, the insider now directly owns 83,892 shares in the company, valued at approximately $4,676,140.08. The trade was a 26.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,776 shares of company stock valued at $3,585,010. 5.40% of the stock is currently owned by corporate insiders.

Protagonist Therapeutics Profile

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.