Protagonist Therapeutics (NASDAQ:PTGX) Raised to “Strong-Buy” at Wolfe Research

Protagonist Therapeutics (NASDAQ:PTGX) was upgraded by equities research analysts at Wolfe Research to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Wall Street Zen upgraded Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Jefferies Financial Group reiterated a “buy” rating and set a $121.00 price target on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Citizens Jmp raised their price objective on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Finally, Johnson Rice reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $115.21.

Protagonist Therapeutics Trading Up 1.1%

Protagonist Therapeutics stock opened at $102.01 on Thursday. Protagonist Therapeutics has a 1-year low of $45.14 and a 1-year high of $107.84. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of -56.36 and a beta of 1.89. The firm has a 50 day simple moving average of $101.23 and a 200 day simple moving average of $91.21.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results 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. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The firm had revenue of $56.37 million for the quarter, compared to the consensus estimate of $11.70 million. On average, equities research analysts forecast that Protagonist Therapeutics will post 2.55 EPS for the current year.

Insider Activity

In other news, insider Arturo Md Molina sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $104.79, for a total transaction of $1,571,850.00. Following the completion of the transaction, the insider owned 84,115 shares of the company’s stock, valued at approximately $8,814,410.85. The trade was a 15.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harold E. Selick sold 24,000 shares of the company’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $105.00, for a total value of $2,520,000.00. Following the completion of the transaction, the director owned 60,845 shares of the company’s stock, valued at $6,388,725. The trade was a 28.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 254,345 shares of company stock worth $25,810,506. Company insiders own 5.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in shares of Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after acquiring an additional 156 shares in the last quarter. Greenline Wealth Management LLC bought a new position in shares of Protagonist Therapeutics during the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC grew its holdings in shares of Protagonist Therapeutics by 138.9% during 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. Abich Financial Wealth Management LLC bought a new position in shares of Protagonist Therapeutics during the third quarter valued at approximately $62,000. Finally, Hantz Financial Services Inc. lifted its stake in Protagonist Therapeutics by 222.4% in the fourth quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock worth $83,000 after acquiring an additional 656 shares during the period. 98.63% of the stock is currently owned by institutional investors.

About Protagonist Therapeutics

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.