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

Protagonist Therapeutics (NASDAQ:PTGX) had its target price upped by JPMorgan Chase & Co. from $53.00 to $57.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently weighed in on PTGX. JMP Securities reiterated a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Wedbush reissued an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 21st. The Goldman Sachs Group lowered their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target on the stock. Finally, StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.89.

Protagonist Therapeutics Stock Up 0.4 %

PTGX opened at $38.66 on Tuesday. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 14.53 and a beta of 2.34. Protagonist Therapeutics has a twelve month low of $24.22 and a twelve month high of $48.89. The company’s 50-day moving average price is $37.89 and its two-hundred day moving average price is $41.78.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. The firm 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%. As a group, sell-side analysts anticipate that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s 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 sale, the chief executive officer now owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its holdings in shares of Protagonist Therapeutics by 127.2% in the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock worth $3,782,000 after buying an additional 45,674 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of Protagonist Therapeutics in the 3rd quarter worth $1,107,000. Swedbank AB bought a new position in shares of Protagonist Therapeutics in the 3rd quarter worth $2,250,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Protagonist Therapeutics by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock worth $25,448,000 after buying an additional 39,850 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Protagonist Therapeutics by 3,099.4% in the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock worth $14,437,000 after buying an additional 310,804 shares during 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.