Protagonist Therapeutics (NASDAQ:PTGX) had its price objective trimmed by JMP Securities from $55.00 to $47.00 in a research note issued to investors on Wednesday, Analyst Ratings Network reports. The firm currently has a market outperform rating on the stock.
A number of other brokerages also recently issued reports on PTGX. Northland Securities upped their price target on Protagonist Therapeutics from $42.00 to $47.00 and gave the company an outperform rating in a report on Monday, June 14th. Piper Sandler upped their price objective on Protagonist Therapeutics from $53.00 to $93.00 and gave the company an overweight rating in a research report on Friday, July 30th. SVB Leerink upped their price objective on Protagonist Therapeutics from $41.00 to $50.00 and gave the company an outperform rating in a research report on Thursday, August 5th. JPMorgan Chase & Co. cut Protagonist Therapeutics from an overweight rating to a neutral rating and reduced their price objective for the company from $60.00 to $49.00 in a research report on Monday, September 20th. Finally, HC Wainwright reiterated a buy rating and set a $50.00 price objective (down previously from $60.00) on shares of Protagonist Therapeutics in a research report on Monday, September 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $51.63.
Shares of PTGX stock opened at $18.81 on Wednesday. The business’s 50 day simple moving average is $44.05 and its 200 day simple moving average is $37.47. Protagonist Therapeutics has a one year low of $12.80 and a one year high of $50.54. The stock has a market capitalization of $894.43 million, a PE ratio of -9.80 and a beta of 1.56.
In other Protagonist Therapeutics news, insider David Y. Liu sold 14,779 shares of the company’s stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $47.56, for a total value of $702,889.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC purchased a new stake in shares of Protagonist Therapeutics during the second quarter worth about $45,000. O Shaughnessy Asset Management LLC bought a new position in Protagonist Therapeutics during the first quarter valued at approximately $57,000. E Fund Management Co. Ltd. bought a new position in Protagonist Therapeutics during the first quarter valued at approximately $82,000. Royal Bank of Canada boosted its stake in Protagonist Therapeutics by 179.3% during the first quarter. Royal Bank of Canada now owns 3,324 shares of the company’s stock valued at $86,000 after buying an additional 2,134 shares during the last quarter. Finally, FORA Capital LLC bought a new position in Protagonist Therapeutics during the second quarter valued at approximately $123,000.
Protagonist Therapeutics Company Profile
Protagonist Therapeutics, Inc a clinical-stage biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address unmet medical needs. Its product pipeline include PTG-300, PTG-200, and PN-943 The company was founded by Mark L. Smythe on August 22, 2006 and is headquartered in Newark, CA.
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