Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $113.6923.

PTGX has been the subject of several research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $110.00 price objective on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. Truist Financial raised their target price on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Wedbush raised their target price on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday. Finally, Citigroup restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Wednesday, May 6th.

Protagonist Therapeutics Price Performance

NASDAQ PTGX opened at $103.50 on Tuesday. Protagonist Therapeutics has a 1-year low of $43.20 and a 1-year high of $107.84. The company has a market capitalization of $6.66 billion, a P/E ratio of -57.18 and a beta of 1.89. The business has a 50 day moving average price of $99.95 and a 200 day moving average price of $89.78.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.55. The firm had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. On average, research analysts expect that Protagonist Therapeutics will post 2.32 earnings per share for the current fiscal year.

Insider Activity

In other Protagonist Therapeutics news, Director Bryan Giraudo sold 36,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the completion of the transaction, the director directly owned 27,825 shares in the company, valued at approximately $2,786,395.50. This trade represents a 56.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Harold E. Selick sold 24,000 shares of the firm’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $105.00, for a total transaction of $2,520,000.00. Following the transaction, the director owned 60,845 shares of the company’s stock, valued at $6,388,725. This trade represents a 28.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 197,345 shares of company stock worth $19,785,066 in the last three months. Company insiders own 5.19% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of PTGX. Royal Bank of Canada grew its holdings in shares of Protagonist Therapeutics by 30.6% during the first quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after buying an additional 2,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after buying an additional 348 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Protagonist Therapeutics by 283.6% during the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock worth $6,493,000 after buying an additional 99,269 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Protagonist Therapeutics during the second quarter worth about $987,000. Finally, Guggenheim Capital LLC grew its holdings in shares of Protagonist Therapeutics by 1.6% during the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after buying an additional 303 shares in 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 (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.