Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock Has Average Target Price of $147.13

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have received an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $147.13.

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Protagonist Therapeutics from $153.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. HC Wainwright raised their price objective on shares of Protagonist Therapeutics from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 31st. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Citigroup lifted their target price on shares of Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Finally, Johnson Rice set a $165.00 target price on shares of Protagonist Therapeutics in a research report on Friday, July 17th.

Insider Buying and Selling at Protagonist Therapeutics

In related news, CFO Asif Ali sold 58,629 shares of the company’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total value of $8,312,419.62. Following the completion of the sale, the chief financial officer owned 59,003 shares in the company, valued at approximately $8,365,445.34. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $149.11, for a total value of $9,805,622.71. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares in the company, valued at $78,055,804.58. The trade was a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 283,629 shares of company stock worth $41,443,786 over the last 90 days. 5.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors have recently modified their holdings of PTGX. Sumitomo Mitsui Trust Group Inc. grew its holdings in Protagonist Therapeutics by 7.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock valued at $291,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC increased its stake in Protagonist Therapeutics by 7.2% in the second quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock valued at $381,000 after purchasing an additional 208 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Protagonist Therapeutics by 8.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,959 shares of the company’s stock worth $258,000 after purchasing an additional 221 shares during the period. Keating Financial Advisory Services Inc. acquired a new stake in Protagonist Therapeutics in the second quarter worth $30,000. Finally, Allworth Financial LP bought a new position in shares of Protagonist Therapeutics during the second quarter worth $31,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $140.06 on Friday. The stock has a 50-day moving average price of $145.17 and a 200 day moving average price of $122.37. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 135.98 and a beta of 1.53. Protagonist Therapeutics has a 12 month low of $62.24 and a 12 month high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.02. The firm had revenue of $213.47 million during the quarter, compared to analysts’ expectations of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.Protagonist Therapeutics’s quarterly revenue was up 3746.8% compared to the same quarter last year. Sell-side analysts predict that Protagonist Therapeutics will post 4.22 earnings per share for the current fiscal year.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc (NASDAQ:PTGX) is a clinical-stage biopharmaceutical company focused on developing peptide-based medicines for chronic immune-mediated and hematologic diseases. The company uses its proprietary technology platform to design peptides intended to selectively interact with disease-relevant biological targets.

Protagonist’s pipeline includes icotrokinra, formerly known as JNJ-2113, an investigational oral peptide that selectively targets the interleukin-23 receptor.