Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $53.57.

Several research analysts have recently commented on the company. Truist Financial assumed coverage on Protagonist Therapeutics in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Wedbush restated an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Finally, JMP Securities dropped their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th.

Insider Buying and Selling

In other news, insider Arturo Md Molina sold 1,906 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $40.98, for a total value of $78,107.88. Following the sale, the insider now directly owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. This represents a 3.94 % decrease in their ownership of the stock. The transaction 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 stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,109 shares of company stock valued at $1,069,999 over the last ninety days. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after acquiring an additional 487 shares during the period. Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics in the first quarter valued at about $35,000. Exchange Traded Concepts LLC bought a new position in Protagonist Therapeutics in the third quarter valued at about $43,000. CWM LLC lifted its holdings in Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after acquiring an additional 1,147 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Protagonist Therapeutics in the first quarter valued at about $69,000. 98.63% of the stock is owned by institutional investors.

Protagonist Therapeutics Trading Down 2.0 %

Shares of NASDAQ PTGX opened at $45.53 on Tuesday. Protagonist Therapeutics has a 12 month low of $16.80 and a 12 month high of $48.89. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 17.12 and a beta of 2.17. The business has a 50-day moving average of $45.24 and a 200-day moving average of $39.47.

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.