HC Wainwright Reiterates “Buy” Rating for Protagonist Therapeutics (NASDAQ:PTGX)

HC Wainwright reiterated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research report report published on Tuesday,Benzinga reports. They currently have a $50.00 price target on the stock.

Several other analysts also recently issued reports on PTGX. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. BMO Capital Markets started coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 price objective on the stock. Truist Financial started coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group started coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They issued a “neutral” rating and a $47.00 price target on the stock. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.78.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock opened at $41.60 on Tuesday. The stock has a fifty day simple moving average of $44.67 and a two-hundred day simple moving average of $40.32. The firm has a market capitalization of $2.48 billion, a PE ratio of 15.64 and a beta of 2.18. Protagonist Therapeutics has a 52-week low of $19.00 and a 52-week high of $48.89.

Insider Buying and Selling

In related news, insider Suneel Gupta sold 103,437 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the completion of the transaction, the insider now directly owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. The trade was a 28.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arturo Md Molina sold 26,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the sale, the insider now directly owns 46,444 shares in the company, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,863 shares of company stock worth $9,689,847. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after acquiring an additional 487 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Protagonist Therapeutics during the third quarter valued at $43,000. CWM LLC grew its holdings in shares of Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after purchasing an additional 1,147 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Protagonist Therapeutics in the 3rd quarter worth about $69,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Protagonist Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after buying an additional 379 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

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.