Protagonist Therapeutics (NASDAQ:PTGX) Sets New 1-Year High – Time to Buy?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $112.77 and last traded at $112.46, with a volume of 536301 shares changing hands. The stock had previously closed at $109.78.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citizens Jmp upped their price target on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Johnson Rice reiterated a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. The Goldman Sachs Group reiterated a “neutral” rating and set a $110.00 price target on shares of Protagonist Therapeutics in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Protagonist Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $115.21.

Protagonist Therapeutics Stock Performance

The company’s 50-day moving average is $102.19 and its 200-day moving average is $93.72. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of -61.57 and a beta of 1.85.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.55. The firm had revenue of $56.37 million during the quarter, compared to analyst estimates 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, analysts predict that Protagonist Therapeutics, Inc. will post 2.93 EPS for the current year.

Insider Transactions at Protagonist Therapeutics

In related news, Director Bryan Giraudo sold 6,000 shares of Protagonist Therapeutics stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $100.00, for a total value of $600,000.00. Following the completion of the sale, the director directly owned 31,825 shares in the company, valued at $3,182,500. This trade represents a 15.86% 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 Protagonist Therapeutics 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 sale, the director owned 60,845 shares of the company’s stock, valued at approximately $6,388,725. The trade was a 28.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 272,345 shares of company stock valued at $27,676,386. 5.19% of the stock is currently owned by insiders.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in Protagonist Therapeutics in the first quarter worth about $245,000. Axiom Investment Management LLC acquired a new stake in Protagonist Therapeutics in the first quarter worth about $211,000. Segall Bryant & Hamill LLC increased its position in Protagonist Therapeutics by 64.8% in the first quarter. Segall Bryant & Hamill LLC now owns 212,714 shares of the company’s stock worth $22,420,000 after purchasing an additional 83,654 shares during the period. Bank of America Corp DE increased its position in Protagonist Therapeutics by 49.3% in the first quarter. Bank of America Corp DE now owns 1,295,434 shares of the company’s stock worth $136,539,000 after purchasing an additional 427,854 shares during the period. Finally, Stempoint Capital LP increased its position in Protagonist Therapeutics by 22.1% in the first quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock worth $7,650,000 after purchasing an additional 13,147 shares during the period. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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.