Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $54.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective upped by equities researchers at HC Wainwright from $50.00 to $54.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 39.35% from the company’s current price.

Several other research analysts also recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. BMO Capital Markets assumed coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target for the company. The Goldman Sachs Group started coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 price objective on the stock. 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 research report on Tuesday, February 4th. Finally, StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.44.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX opened at $38.75 on Monday. The stock has a market capitalization of $2.31 billion, a P/E ratio of 14.57 and a beta of 2.22. The business has a 50-day moving average of $38.37 and a two-hundred day moving average of $41.93. Protagonist Therapeutics has a fifty-two week low of $24.22 and a fifty-two week high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last released 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 firm had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, research analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the 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 transaction, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Arturo Md Molina sold 26,000 shares of Protagonist Therapeutics stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the transaction, the insider now directly owns 46,444 shares of the company’s stock, valued at approximately $2,076,046.80. The trade was a 35.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Large investors have recently made changes to their positions in the company. Mackenzie Financial Corp boosted its position in Protagonist Therapeutics by 174.6% in the fourth quarter. Mackenzie Financial Corp now owns 21,349 shares of the company’s stock valued at $824,000 after buying an additional 13,575 shares in the last quarter. Toronto Dominion Bank bought a new position in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $13,162,000. Cache Advisors LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter worth approximately $392,000. GF Fund Management CO. LTD. bought a new stake in Protagonist Therapeutics during the 4th quarter worth approximately $48,000. Finally, Woodline Partners LP increased its holdings in Protagonist Therapeutics by 24.8% during the 4th quarter. Woodline Partners LP now owns 582,327 shares of the company’s stock valued at $22,478,000 after purchasing an additional 115,809 shares in 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.