Protagonist Therapeutics Inc (PTGX) Rating Increased to Buy at Zacks Investment Research
Protagonist Therapeutics Inc (NASDAQ:PTGX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $22.00 price objective on the stock. Zacks Investment Research’s target price points to a potential downside of 5.82% from the company’s previous close.
According to Zacks, “Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a proprietary technology platform focused on discovering and developing peptide-based new chemical entities to address significant unmet medical needs. The Company’s initial lead product candidates consists of PTG-100 and PTG-200, which have the potential to transform the existing treatment paradigm for inflammatory bowel disease, a GI disease consisting primarily of ulcerative colitis and Crohn’s disease; PTG-300, an injectable hepcidin mimetic. Protagonist Therapeutics, Inc. is based in Milpitas, United States. “
PTGX has been the topic of several other reports. BMO Capital Markets started coverage on shares of Protagonist Therapeutics in a report on Tuesday, September 6th. They issued an “outperform” rating on the stock. Leerink Swann started coverage on shares of Protagonist Therapeutics in a report on Tuesday, September 6th. They issued an “outperform” rating and a $17.00 price objective on the stock. Finally, Barclays PLC started coverage on shares of Protagonist Therapeutics in a report on Tuesday, September 6th. They issued an “overweight” rating and a $18.00 price objective on the stock.
Shares of Protagonist Therapeutics (NASDAQ:PTGX) opened at 23.36 on Wednesday. The stock’s 50 day moving average is $20.60 and its 200 day moving average is $16.98. Protagonist Therapeutics has a 1-year low of $10.02 and a 1-year high of $23.66. The company’s market cap is $384.53 million.
In related news, Director Armen Shanafelt acquired 583,333 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were purchased at an average cost of $12.00 per share, for a total transaction of $6,999,996.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
An institutional investor recently bought a new position in Protagonist Therapeutics stock. Spark Investment Management LLC bought a new position in Protagonist Therapeutics Inc (NASDAQ:PTGX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 42,100 shares of the company’s stock, valued at approximately $889,000. Spark Investment Management LLC owned about 0.26% of Protagonist Therapeutics at the end of the most recent quarter.
Protagonist Therapeutics Company Profile
Protagonist Therapeutics, Inc (Protagonist) is a clinical-stage biopharmaceutical company. The Company has a technology platform focused on discovering and developing peptide-based new chemical entities (NCEs) to address unmet medical needs. Protagonist’s primary focus is on developing oral peptide drugs that specifically target biological pathways.
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