Protagonist Therapeutics (NASDAQ:PTGX) Sets New 12-Month High – What’s Next?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $151.88 and last traded at $148.29, with a volume of 306256 shares traded. The stock had previously closed at $150.00.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wall Street Zen lowered Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Wolfe Research initiated coverage on Protagonist Therapeutics in a research note on Thursday, May 21st. They issued an “outperform” rating and a $135.00 target price for the company. Citigroup upped their price target on Protagonist Therapeutics from $130.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wedbush increased their price target on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a report on Monday. Finally, The Goldman Sachs Group upgraded shares of Protagonist Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $186.00 in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $137.86.

Protagonist Therapeutics Stock Down 1.1%

The company has a market cap of $9.54 billion, a PE ratio of 143.97 and a beta of 1.78. The stock has a 50-day moving average of $126.51 and a 200-day moving average of $106.30.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.02. The firm had revenue of $213.47 million for the quarter, compared to analysts’ expectations of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The business’s revenue was up 3746.8% on a year-over-year basis. Research analysts expect that Protagonist Therapeutics, Inc. will post 3.51 EPS for the current year.

Insider Buying and Selling

In other news, Director William D. Waddill sold 9,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the sale, the director owned 7,825 shares in the company, valued at approximately $922,880.50. This trade represents a 53.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 27,000 shares of company stock valued at $2,927,340. 5.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PTGX. NEXTBio Capital Management LP purchased a new position in shares of Protagonist Therapeutics during the fourth quarter worth approximately $20,055,000. Jennison Associates LLC purchased a new position in Protagonist Therapeutics in the 4th quarter worth $28,924,000. Clearbridge Investments LLC purchased a new position in shares of Protagonist Therapeutics in the fourth quarter worth about $42,783,000. Keystone Investors PTE Ltd. bought a new stake in Protagonist Therapeutics in the fourth quarter valued at approximately $2,305,000. Finally, Stempoint Capital LP raised its holdings in Protagonist Therapeutics by 22.1% during the 1st quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock valued at $7,650,000 after buying an additional 13,147 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

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.