Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $57.00 at JPMorgan Chase & Co.

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $53.00 to $57.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 48.05% from the company’s current price.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 21st. The Goldman Sachs Group decreased their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. HC Wainwright restated a “buy” rating and set a $54.00 price objective on shares of Protagonist Therapeutics in a research report on Monday. Finally, BMO Capital Markets assumed coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 target price for the company. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.89.

Protagonist Therapeutics Stock Performance

Shares of Protagonist Therapeutics stock opened at $38.50 on Tuesday. The stock has a market capitalization of $2.36 billion, a PE ratio of 14.47 and a beta of 2.22. Protagonist Therapeutics has a 52 week low of $24.22 and a 52 week high of $48.89. The stock has a 50 day moving average price of $37.90 and a two-hundred day moving average price of $41.80.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly 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 business 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%. Research analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In related 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.40% of the stock is owned by insiders.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTGX. Mackenzie Financial Corp lifted its stake in shares of Protagonist Therapeutics by 174.6% during the 4th quarter. Mackenzie Financial Corp now owns 21,349 shares of the company’s stock worth $824,000 after acquiring an additional 13,575 shares during the last quarter. Toronto Dominion Bank purchased a new stake in Protagonist Therapeutics in the fourth quarter worth $13,162,000. Cache Advisors LLC bought a new position in Protagonist Therapeutics in the 4th quarter worth about $392,000. GF Fund Management CO. LTD. purchased a new position in Protagonist Therapeutics during the 4th quarter worth $48,000. Finally, Woodline Partners LP raised its holdings in shares of Protagonist Therapeutics by 24.8% in the fourth quarter. Woodline Partners LP now owns 582,327 shares of the company’s stock valued at $22,478,000 after acquiring an additional 115,809 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.