Protagonist Therapeutics (NASDAQ:PTGX) Sets New 52-Week High – Here’s Why

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $99.31 and last traded at $97.6850, with a volume of 56884 shares traded. The stock had previously closed at $96.75.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PTGX shares. Barclays increased their price objective on shares of Protagonist Therapeutics from $108.00 to $113.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Truist Financial lifted their price objective on Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Jefferies Financial Group boosted their price objective on Protagonist Therapeutics from $95.00 to $118.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Citigroup upped their target price on Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, HC Wainwright raised their target price on Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.08.

Protagonist Therapeutics Stock Performance

The business has a 50 day moving average of $85.77 and a two-hundred day moving average of $80.06. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of -47.66 and a beta of 2.23.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.16). Protagonist Therapeutics had a negative net margin of 282.83% and a negative return on equity of 19.89%. The firm had revenue of $7.44 million for the quarter, compared to the consensus estimate of $14.92 million. On average, equities analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other news, CFO Asif Ali sold 46,203 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $83.13, for a total transaction of $3,840,855.39. Following the completion of the transaction, the chief financial officer directly owned 60,320 shares in the company, valued at $5,014,401.60. This trade represents a 43.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Arturo Md Molina sold 13,151 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $82.42, for a total transaction of $1,083,905.42. Following the completion of the sale, the insider owned 84,115 shares in the company, valued at $6,932,758.30. This represents a 13.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 203,167 shares of company stock valued at $16,889,199. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Several institutional investors have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in Protagonist Therapeutics by 18.7% in the 2nd quarter. American Century Companies Inc. now owns 813,995 shares of the company’s stock valued at $44,990,000 after buying an additional 128,171 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Protagonist Therapeutics by 8.9% in the 3rd quarter. Voya Investment Management LLC now owns 305,419 shares of the company’s stock worth $20,289,000 after buying an additional 25,065 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Protagonist Therapeutics in the 2nd quarter valued at $6,641,000. Creative Planning raised its position in Protagonist Therapeutics by 74.3% in the second quarter. Creative Planning now owns 30,204 shares of the company’s stock worth $1,669,000 after acquiring an additional 12,871 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Protagonist Therapeutics by 2,043.8% in the 3rd quarter. SG Americas Securities LLC now owns 41,246 shares of the company’s stock worth $2,740,000 after purchasing an additional 39,322 shares during the period. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.