Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $62.56 Consensus Target Price from Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been assigned a consensus recommendation of “Buy” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $62.56.

Several research firms have issued reports on PTGX. HC Wainwright reaffirmed a “buy” rating and set a $54.00 price objective on shares of Protagonist Therapeutics in a report on Monday, March 10th. Wedbush restated an “outperform” rating and set a $70.00 price target on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Truist Financial lifted their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. The Goldman Sachs Group reduced their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Finally, BMO Capital Markets lifted their price target on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th.

Insiders Place Their Bets

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the transaction, the insider now directly owns 83,892 shares of the company’s stock, valued at $4,676,140.08. The trade was a 26.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Waddill sold 4,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the sale, the director now directly owns 13,130 shares of the company’s stock, valued at approximately $712,302.50. This trade represents a 23.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,776 shares of company stock valued at $3,585,010. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its stake in shares of Protagonist Therapeutics by 127.2% in the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after purchasing an additional 45,674 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Protagonist Therapeutics by 7.6% in the 3rd 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 during the period. Principal Financial Group Inc. lifted its position in Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after buying an additional 310,804 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Protagonist Therapeutics during the fourth quarter worth about $2,016,000. Finally, Barclays PLC increased its position in shares of Protagonist Therapeutics by 223.6% during the third quarter. Barclays PLC now owns 126,995 shares of the company’s stock valued at $5,714,000 after acquiring an additional 87,755 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Down 4.4 %

Shares of Protagonist Therapeutics stock opened at $44.44 on Monday. The firm has a market cap of $2.73 billion, a PE ratio of 16.71 and a beta of 2.30. The business has a 50-day moving average price of $43.48 and a 200 day moving average price of $42.94. Protagonist Therapeutics has a twelve month low of $24.22 and a twelve month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. On average, sell-side analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current year.

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.