Protagonist Therapeutics (NASDAQ:PTGX) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report released on Monday, MarketBeat reports. The firm currently has a $54.00 target price on the stock.

PTGX has been the topic of a number of other research reports. 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 target on the stock. Wedbush reaffirmed an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 7th. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.22.

Protagonist Therapeutics Stock Down 3.5 %

PTGX opened at $57.65 on Monday. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 21.67 and a beta of 2.34. Protagonist Therapeutics has a fifty-two week low of $24.22 and a fifty-two week high of $60.60. The company’s 50-day moving average price is $39.00 and its 200 day moving average price is $42.06.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $2.07. The firm had revenue of $170.64 million for 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%. Research analysts anticipate that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the transaction, the chief executive officer now directly owns 540,260 shares in the company, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTGX. Janney Montgomery Scott LLC purchased a new position in Protagonist Therapeutics during the 3rd quarter worth approximately $866,000. Amalgamated Bank boosted its stake in shares of Protagonist Therapeutics by 756.4% during the 3rd quarter. Amalgamated Bank now owns 17,324 shares of the company’s stock valued at $780,000 after buying an additional 15,301 shares during the period. Entropy Technologies LP acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at $312,000. Victory Capital Management Inc. boosted its stake in shares of Protagonist Therapeutics by 1,729.3% during the 3rd quarter. Victory Capital Management Inc. now owns 130,797 shares of the company’s stock valued at $5,886,000 after buying an additional 123,647 shares during the period. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at $399,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Company 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.