Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $118.00 at Jefferies Financial Group

Protagonist Therapeutics (NASDAQ:PTGX) had its price target upped by stock analysts at Jefferies Financial Group from $95.00 to $118.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 42.08% from the company’s previous close.

A number of other analysts have also commented on the stock. Citizens Jmp lifted their target price on shares of Protagonist Therapeutics from $69.00 to $102.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. BTIG Research restated a “buy” rating and issued a $82.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. JPMorgan Chase & Co. upped their price objective on Protagonist Therapeutics from $68.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Truist Financial increased their target price on Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Finally, Weiss Ratings upgraded Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, December 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.64.

Protagonist Therapeutics Trading Up 1.5%

Shares of PTGX traded up $1.25 during trading hours on Monday, hitting $83.05. 1,414,660 shares of the stock traded hands, compared to its average volume of 889,415. The business has a fifty day moving average of $86.26 and a 200-day moving average of $72.95. The firm has a market capitalization of $5.19 billion, a PE ratio of 133.95 and a beta of 2.26. Protagonist Therapeutics has a 1-year low of $33.70 and a 1-year high of $96.54.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. The business had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. As a group, equities research analysts expect that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dinesh V. Ph D. Patel sold 34,438 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $82.48, for a total value of $2,840,446.24. Following the sale, the chief executive officer owned 580,505 shares of the company’s stock, valued at approximately $47,880,052.40. This trade represents a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 46,203 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $83.13, for a total transaction of $3,840,855.39. Following the completion of the sale, the chief financial officer directly owned 60,320 shares in the company, valued at approximately $5,014,401.60. This represents a 43.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 165,167 shares of company stock worth $13,732,039. 4.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds have recently modified their holdings of PTGX. Horizon Investments LLC bought a new stake in Protagonist Therapeutics in the fourth quarter valued at approximately $652,000. Jennison Associates LLC acquired a new stake in Protagonist Therapeutics during the 4th quarter valued at $28,924,000. M&T Bank Corp bought a new position in Protagonist Therapeutics during the fourth quarter worth $328,000. UBS Group AG increased its holdings in shares of Protagonist Therapeutics by 46.1% in the fourth quarter. UBS Group AG now owns 2,770,021 shares of the company’s stock valued at $241,934,000 after purchasing an additional 874,013 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Protagonist Therapeutics by 53.4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 26,528 shares of the company’s stock valued at $2,317,000 after purchasing an additional 9,232 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.