Protagonist Therapeutics (NASDAQ:PTGX) Posts Earnings Results, Misses Expectations By $0.16 EPS

Protagonist Therapeutics (NASDAQ:PTGX) released its quarterly earnings data on Wednesday. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.16), Zacks reports. Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX traded down $0.29 during mid-day trading on Wednesday, reaching $87.10. 285,758 shares of the stock were exchanged, compared to its average volume of 735,990. Protagonist Therapeutics has a 1-year low of $34.81 and a 1-year high of $96.54. The stock has a market capitalization of $5.45 billion, a PE ratio of 140.49 and a beta of 2.26. The business’s fifty day simple moving average is $84.07 and its 200 day simple moving average is $76.51.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director Lewis T. Williams sold 18,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $82.42, for a total value of $1,483,560.00. Following the completion of the sale, the director owned 7,825 shares of the company’s stock, valued at $644,936.50. This trade represents a 69.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Waddill sold 20,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $83.68, for a total transaction of $1,673,600.00. Following the completion of the sale, the director directly owned 7,825 shares in the company, valued at $654,796. This represents a 71.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 203,167 shares of company stock worth $16,889,199 in the last quarter. 4.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Greenline Wealth Management LLC bought a new position in shares of Protagonist Therapeutics during the fourth quarter valued at $27,000. Osaic Holdings Inc. boosted its position in Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after acquiring an additional 525 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $90,000. Truvestments Capital LLC lifted its position in shares of Protagonist Therapeutics by 60.8% in the fourth quarter. Truvestments Capital LLC now owns 1,161 shares of the company’s stock valued at $101,000 after buying an additional 439 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Protagonist Therapeutics by 23.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,727 shares of the company’s stock worth $151,000 after acquiring an additional 324 shares during the period. Institutional investors own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PTGX. Truist Financial raised their price objective on Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Weiss Ratings downgraded Protagonist Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, February 17th. Barclays increased their price objective on shares of Protagonist Therapeutics from $88.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. BTIG Research restated a “buy” rating and set a $82.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. Finally, Wedbush boosted their price objective on Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $98.00.

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.