Protagonist Therapeutics (NASDAQ:PTGX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

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. “

A number of other research analysts have also recently weighed in on PTGX. ValuEngine upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Leerink Swann lifted their target price on Protagonist Therapeutics from $13.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $22.00.

PTGX stock opened at $9.70 on Friday. Protagonist Therapeutics has a 52-week low of $5.50 and a 52-week high of $23.97. The firm has a market cap of $218.88 million, a PE ratio of -4.64 and a beta of 3.44.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Tuesday, November 6th. The company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.01). Protagonist Therapeutics had a negative net margin of 70.54% and a negative return on equity of 24.08%. The firm had revenue of $6.12 million during the quarter, compared to analyst estimates of $6.35 million. Research analysts expect that Protagonist Therapeutics will post -1.58 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of PTGX. FMR LLC raised its position in Protagonist Therapeutics by 8.7% in the third quarter. FMR LLC now owns 3,457,402 shares of the company’s stock valued at $35,577,000 after purchasing an additional 276,819 shares during the period. BlackRock Inc. raised its position in Protagonist Therapeutics by 39.0% in the first quarter. BlackRock Inc. now owns 687,160 shares of the company’s stock valued at $5,904,000 after purchasing an additional 192,632 shares during the period. Renaissance Technologies LLC raised its position in Protagonist Therapeutics by 816.3% in the second quarter. Renaissance Technologies LLC now owns 478,300 shares of the company’s stock valued at $3,214,000 after purchasing an additional 426,100 shares during the period. Jennison Associates LLC purchased a new position in Protagonist Therapeutics in the third quarter valued at about $3,598,000. Finally, Millennium Management LLC raised its position in Protagonist Therapeutics by 66.4% in the first quarter. Millennium Management LLC now owns 320,739 shares of the company’s stock valued at $2,755,000 after purchasing an additional 128,009 shares during the period. Hedge funds and other institutional investors own 57.34% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing peptide-based drugs to address various unmet medical needs. The company's lead product candidates include PTG-100, an oral alpha-4-beta-7 integrin- antagonist that is in Phase II b clinical trial for the treatment of ulcerative colitis, as well as for treating chronic pouchitis, a gastrointestinal (GI) condition that occurs in post-surgical inflammatory bowel disease (IBD) patients; PTG-200, an oral interleukin-23 receptor antagonist, which is in Phase I clinical trial for the treatment of IBD; and PTG-300, an injectable hepcidin mimetic, which has completed Phase I study for use in the treatment of beta-thalassemia, as well as for treating other diseases, such as hereditary hemochromatosis, polycythemia vera, siderophilic infections, and liver fibrosis.

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