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

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) hit a new 52-week high on Thursday . The company traded as high as $105.69 and last traded at $105.0540, with a volume of 71651 shares trading hands. The stock had previously closed at $104.31.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Johnson Rice reiterated a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. TD Cowen upped their price objective on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. HC Wainwright lifted their target price on Protagonist Therapeutics from $80.00 to $117.00 and gave the company a “buy” rating in a report on Friday, January 30th. JPMorgan Chase & Co. upped their price target on Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Finally, Barclays increased their price target on Protagonist Therapeutics from $113.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Thirteen equities research analysts have rated the stock with 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 currently has an average rating of “Moderate Buy” and a consensus target price of $107.31.

Protagonist Therapeutics Stock Performance

The company’s 50-day moving average price is $88.30 and its 200-day moving average price is $81.90. The firm has a market capitalization of $6.66 billion, a PE ratio of -51.01 and a beta of 2.23.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results 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 business had revenue of $7.44 million during the quarter, compared to analysts’ expectations of $14.92 million. As a group, analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Arturo Md Molina sold 13,151 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $82.42, for a total value of $1,083,905.42. Following the completion of the transaction, the insider directly owned 84,115 shares of the company’s stock, valued at $6,932,758.30. This represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 54,641 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $101.00, for a total transaction of $5,518,741.00. Following the completion of the transaction, the chief executive officer owned 524,938 shares in the company, valued at $53,018,738. This represents a 9.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 257,867 shares of company stock worth $22,413,899. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PTGX. Farther Finance Advisors LLC boosted its stake in Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 156 shares in the last quarter. Greenline Wealth Management LLC acquired a new stake in shares of Protagonist Therapeutics during the fourth quarter worth about $27,000. Salomon & Ludwin LLC purchased a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Protagonist Therapeutics by 138.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $36,000 after purchasing an additional 314 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at about $62,000. Institutional investors and hedge funds 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.