Zacks Investment Research cut shares of Protagonist Therapeutics Inc (NASDAQ:PTGX) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

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. “

Several other brokerages have also recently commented on PTGX. BMO Capital Markets began coverage on shares of Protagonist Therapeutics in a research report on Tuesday, September 6th. They set an outperform rating on the stock. Leerink Swann began coverage on shares of Protagonist Therapeutics in a research report on Tuesday, September 6th. They set an outperform rating and a $17.00 price target on the stock. Finally, Barclays PLC began coverage on shares of Protagonist Therapeutics in a research report on Tuesday, September 6th. They set an overweight rating and a $18.00 price target on the stock.

Protagonist Therapeutics (NASDAQ:PTGX) traded down 0.59% during trading on Tuesday, reaching $23.76. The company’s stock had a trading volume of 28,113 shares. Protagonist Therapeutics has a 52 week low of $10.02 and a 52 week high of $24.52. The firm has a 50 day moving average of $21.18 and a 200 day moving average of $17.30. The stock’s market capitalization is $391.11 million.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Monday, November 14th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.58) by $0.29. During the same quarter in the prior year, the business posted ($12.79) earnings per share.

A number of institutional investors have recently modified their holdings of PTGX. Credit Suisse AG acquired a new position in shares of Protagonist Therapeutics during the third quarter worth about $358,000. Northern Trust Corp acquired a new position in shares of Protagonist Therapeutics during the third quarter worth about $425,000. Spark Investment Management LLC acquired a new position in shares of Protagonist Therapeutics during the third quarter worth about $889,000. BVF Inc. IL acquired a new position in shares of Protagonist Therapeutics during the third quarter worth about $7,924,000. Finally, RA Capital Management LLC acquired a new position in shares of Protagonist Therapeutics during the third quarter worth about $15,941,000.

About Protagonist Therapeutics

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.

5 Day Chart for NASDAQ:PTGX

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