HC Wainwright Reiterates Buy Rating for Protagonist Therapeutics (NASDAQ:PTGX)

HC Wainwright restated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $50.00 price objective on the stock.

Several other equities research analysts have also recently issued reports on the company. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, JMP Securities dropped their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $53.57.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $46.28 on Monday. The stock’s fifty day moving average is $45.61 and its two-hundred day moving average is $38.33. Protagonist Therapeutics has a fifty-two week low of $15.05 and a fifty-two week high of $48.89. The firm has a market capitalization of $2.73 billion, a P/E ratio of 17.48 and a beta of 2.17.

Insider Transactions at Protagonist Therapeutics

In related news, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at $1,555,370.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Asif Ali sold 14,203 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTGX. Sei Investments Co. grew its holdings in shares of Protagonist Therapeutics by 12.2% during the first quarter. Sei Investments Co. now owns 41,758 shares of the company’s stock worth $1,208,000 after buying an additional 4,529 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Protagonist Therapeutics during the first quarter valued at approximately $35,000. ProShare Advisors LLC increased its holdings in Protagonist Therapeutics by 9.2% in the 1st quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock valued at $415,000 after purchasing an additional 1,206 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Protagonist Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after acquiring an additional 39,055 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in shares of Protagonist Therapeutics during the first quarter valued at approximately $202,000. Hedge funds and other institutional investors 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.