Protagonist Therapeutics (NASDAQ:PTGX) Earns Buy Rating from HC Wainwright

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

A number of other research analysts have also issued reports on PTGX. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets assumed coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $62.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Wedbush reaffirmed an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 21st. Finally, JMP Securities reiterated a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Two 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.89.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $38.35 on Monday. The firm has a market cap of $2.35 billion, a P/E ratio of 14.42 and a beta of 2.34. The firm has a fifty day moving average of $37.85 and a two-hundred day moving average of $41.72. Protagonist Therapeutics has a 1-year low of $24.22 and a 1-year high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last issued 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. The company had revenue of $170.64 million during the quarter, compared to analyst estimates of $56.65 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. On average, sell-side analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current year.

Insider Activity

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the business’s stock in a transaction 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 directly owns 540,260 shares of the company’s stock, valued at $20,627,126.80. The trade was a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PTGX. Franklin Resources Inc. boosted its position in Protagonist Therapeutics by 127.2% during the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock worth $3,782,000 after acquiring an additional 45,674 shares during the period. Swedbank AB acquired a new stake in shares of Protagonist Therapeutics during the third quarter worth approximately $2,250,000. Charles Schwab Investment Management Inc. grew its position in Protagonist Therapeutics by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock valued at $25,448,000 after purchasing an additional 39,850 shares in the last quarter. Principal Financial Group Inc. grew its position in Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after purchasing an additional 310,804 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Protagonist Therapeutics in the 3rd quarter valued at approximately $861,000. 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.