Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective raised by analysts at Citizens Jmp from $69.00 to $102.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target points to a potential upside of 29.62% from the stock’s previous close.

PTGX has been the subject of a number of other research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. Truist Financial lifted their price target on shares of Protagonist Therapeutics from $76.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, October 8th. Citigroup increased their price target on Protagonist Therapeutics from $72.00 to $96.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Barclays began coverage on Protagonist Therapeutics in a research report on Wednesday, September 17th. They issued an “overweight” rating and a $72.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Protagonist Therapeutics Stock Down 1.4%

Shares of PTGX traded down $1.09 during trading hours on Friday, reaching $78.69. 59,653 shares of the company traded hands, compared to its average volume of 1,003,737. The stock has a fifty day simple moving average of $68.13 and a 200 day simple moving average of $57.24. Protagonist Therapeutics has a fifty-two week low of $33.31 and a fifty-two week high of $93.25. The stock has a market capitalization of $4.90 billion, a PE ratio of 112.07 and a beta of 2.22.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.03). The firm had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%. Research analysts predict that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 12,000 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $81.62, for a total value of $979,440.00. Following the completion of the transaction, the director owned 5,130 shares of the company’s stock, valued at approximately $418,710.60. This represents a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 20,000 shares of company stock worth $1,473,440. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Protagonist Therapeutics by 2.7% during the first quarter. Principal Financial Group Inc. now owns 347,095 shares of the company’s stock valued at $16,786,000 after buying an additional 9,286 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Protagonist Therapeutics in the first quarter worth $117,000. Envestnet Asset Management Inc. boosted its position in Protagonist Therapeutics by 85.7% during the first quarter. Envestnet Asset Management Inc. now owns 16,679 shares of the company’s stock valued at $807,000 after purchasing an additional 7,698 shares during the last quarter. Xponance Inc. purchased a new stake in shares of Protagonist Therapeutics during the 1st quarter worth about $216,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Protagonist Therapeutics by 9.5% during the 1st quarter. New York State Common Retirement Fund now owns 19,582 shares of the company’s stock valued at $947,000 after buying an additional 1,700 shares during the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.