Analysts’ Recent Ratings Updates for Protagonist Therapeutics (PTGX)

A number of research firms have changed their ratings and price targets for Protagonist Therapeutics (NASDAQ: PTGX):

• 12/10/2024 – Protagonist Therapeutics was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 12/10/2024 – Protagonist Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $50.00 price target on the stock.
• 12/6/2024 – Protagonist Therapeutics is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $62.00 price target on the stock.
• 12/6/2024 – Protagonist Therapeutics is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “neutral” rating and a $47.00 price target on the stock.
• 12/5/2024 – Protagonist Therapeutics was upgraded by analysts at The Goldman Sachs Group, Inc. to a “hold” rating.
• 11/19/2024 – Protagonist Therapeutics had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $58.00 price target on the stock.
• 11/19/2024 – Protagonist Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $50.00 price target on the stock.
• 11/11/2024 – Protagonist Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $50.00 price target on the stock.
• 11/4/2024 – Protagonist Therapeutics had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $58.00 price target on the stock.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $42.50 on Wednesday. Protagonist Therapeutics, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $48.89. The firm has a market capitalization of $2.53 billion, a P/E ratio of 15.98 and a beta of 2.18. The company’s 50 day moving average price is $44.67 and its two-hundred day moving average price is $40.32.

Insider Transactions at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction on Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the transaction, the insider now owns 46,444 shares of the company’s stock, valued at $1,903,275.12. This trade represents a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of Protagonist Therapeutics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the transaction, the chief executive officer now directly owns 435,208 shares of the company’s stock, valued at $20,437,367.68. This represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,863 shares of company stock worth $9,689,847. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PTGX. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Protagonist Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after purchasing an additional 379 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Protagonist Therapeutics by 749.2% during 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 last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Protagonist Therapeutics during the third quarter valued at approximately $43,000. CWM LLC increased its position in shares of Protagonist Therapeutics by 910.3% during 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 last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Protagonist Therapeutics by 1.2% during the third quarter. The Manufacturers Life Insurance Company now owns 115,765 shares of the company’s stock valued at $5,209,000 after acquiring an additional 1,359 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.