Analysts Set Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Target Price at $137.86

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $137.8571.

Several equities research analysts recently weighed in on the company. Weiss Ratings raised Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday. Zacks Research lowered Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Wolfe Research assumed coverage on shares of Protagonist Therapeutics in a report on Thursday, May 21st. They set an “outperform” rating and a $135.00 target price on the stock. Truist Financial upped their target price on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Wall Street Zen lowered shares of Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th.

Protagonist Therapeutics Price Performance

PTGX stock opened at $155.10 on Thursday. Protagonist Therapeutics has a 1 year low of $54.18 and a 1 year high of $155.53. The firm has a 50-day moving average of $129.77 and a 200 day moving average of $107.59. The company has a market cap of $10.04 billion, a P/E ratio of 150.58 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data 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 business 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%.Protagonist Therapeutics’s revenue was up 3746.8% on a year-over-year basis. On average, equities research analysts expect that Protagonist Therapeutics will post 4.22 earnings per share for the current fiscal year.

Insider Activity

In other Protagonist Therapeutics news, Director William D. Waddill sold 9,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 34,239 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $148.52, for a total transaction of $5,085,176.28. Following the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at $77,746,952.56. The trade was a 6.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 127,000 shares of company stock worth $17,818,139 in the last three months. 5.19% of the stock is currently owned by insiders.

Institutional Trading of Protagonist Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its stake in Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 156 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Protagonist Therapeutics by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,393 shares of the company’s stock worth $1,170,000 after acquiring an additional 193 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Protagonist Therapeutics by 2.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company’s stock worth $751,000 after acquiring an additional 196 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Protagonist Therapeutics by 7.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock worth $291,000 after acquiring an additional 200 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Protagonist Therapeutics by 7.2% during the second quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock valued at $381,000 after acquiring an additional 208 shares in the last quarter. Hedge funds and other 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.