Protagonist Therapeutics’ (PTGX) “Buy” Rating Reiterated at HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $54.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 40.81% from the company’s previous close.

A number of other brokerages also recently weighed in on PTGX. BMO Capital Markets started coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. JMP Securities reiterated a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. Finally, Wedbush restated an “outperform” rating and set a $58.00 price target 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.89.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $38.35 on Monday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 14.42 and a beta of 2.34. The stock has a 50-day simple moving average of $37.85 and a 200-day simple moving average of $41.72. Protagonist Therapeutics has a 52-week low of $24.22 and a 52-week high of $48.89.

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

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction that occurred 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 directly owns 540,260 shares in the company, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors have recently bought and sold shares of PTGX. Farallon Capital Management LLC raised its stake in shares of Protagonist Therapeutics by 1.2% in the 4th quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company’s stock valued at $228,898,000 after buying an additional 69,000 shares in the last quarter. RTW Investments LP raised its position in Protagonist Therapeutics by 1.3% in the fourth quarter. RTW Investments LP now owns 5,498,545 shares of the company’s stock worth $212,244,000 after purchasing an additional 72,433 shares in the last quarter. State Street Corp lifted its stake in Protagonist Therapeutics by 52.9% during the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after purchasing an additional 1,101,218 shares during the period. BVF Inc. IL boosted its holdings in Protagonist Therapeutics by 2.7% during the fourth quarter. BVF Inc. IL now owns 1,900,015 shares of the company’s stock valued at $73,341,000 after purchasing an additional 49,848 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Protagonist Therapeutics by 8.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock valued at $72,432,000 after purchasing an additional 142,376 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

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.