Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $53.78 Average PT from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned an average rating of “Buy” from the nine research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $53.78.

A number of analysts have recently commented on PTGX shares. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, December 10th. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 target price on the stock.

Insider Activity

In other Protagonist Therapeutics news, insider Suneel Gupta sold 103,437 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the transaction, the insider now owns 256,174 shares of the company’s stock, valued at $11,794,250.96. This trade represents a 28.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.96, for a total value of $3,687,299.20. Following the sale, the chief executive officer now directly owns 435,208 shares in the company, valued at $20,437,367.68. This represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,863 shares of company stock valued at $9,689,847. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in shares of Protagonist Therapeutics by 127.2% during the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock worth $3,782,000 after buying an additional 45,674 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $1,107,000. Seven Eight Capital LP increased its stake in Protagonist Therapeutics by 426.9% in the 2nd quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after purchasing an additional 29,810 shares in the last quarter. Swedbank AB purchased a new stake in Protagonist Therapeutics during the third quarter worth $2,250,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Protagonist Therapeutics by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock valued at $25,448,000 after buying an additional 39,850 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

PTGX opened at $36.82 on Wednesday. The company has a fifty day moving average of $40.55 and a two-hundred day moving average of $41.72. Protagonist Therapeutics has a fifty-two week low of $23.17 and a fifty-two week high of $48.89. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.84 and a beta of 2.23.

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.