Protagonist Therapeutics (NASDAQ:PTGX) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $50.00 target price on the stock.

A number of other research firms have also commented on PTGX. JMP Securities dropped their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Monday, November 4th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Protagonist Therapeutics has a consensus rating of “Buy” and an average price target of $53.57.

Protagonist Therapeutics Stock Up 11.5 %

Shares of NASDAQ:PTGX opened at $46.46 on Tuesday. Protagonist Therapeutics has a 12-month low of $16.80 and a 12-month high of $48.89. The firm has a fifty day moving average of $45.26 and a two-hundred day moving average of $39.02. The firm has a market capitalization of $2.77 billion, a P/E ratio of 17.82 and a beta of 2.17.

Insider Activity

In related news, insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the transaction, the insider now owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. This trade represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $540,000. This represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,109 shares of company stock worth $1,069,999 in the last 90 days. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Protagonist Therapeutics during the third quarter worth $909,000. Geode Capital Management LLC increased its position in Protagonist Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company’s stock worth $61,873,000 after acquiring an additional 3,528 shares during the period. Barclays PLC raised its stake in Protagonist Therapeutics by 223.6% in the 3rd quarter. Barclays PLC now owns 126,995 shares of the company’s stock worth $5,714,000 after purchasing an additional 87,755 shares in the last quarter. XTX Topco Ltd bought a new stake in Protagonist Therapeutics in the 3rd quarter valued at about $666,000. Finally, Wellington Management Group LLP acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $1,354,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.