Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $123.00 Average PT from Analysts

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $123.00.

Several equities research analysts recently commented on PTGX shares. Weiss Ratings restated a “sell (d+)” rating on shares of Protagonist Therapeutics in a research report on Friday, May 15th. Zacks Research upgraded Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $110.00 price target on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Johnson Rice set a $165.00 price target on Protagonist Therapeutics in a report on Friday. Finally, Truist Financial increased their price target on Protagonist Therapeutics from $121.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th.

Insider Activity at Protagonist Therapeutics

In related news, Director Bryan Giraudo sold 36,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the transaction, the director owned 27,825 shares in the company, valued at $2,786,395.50. The trade was a 56.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the completion of the sale, the chief executive officer owned 523,478 shares of the company’s stock, valued at $52,410,617.36. The trade was a 12.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 161,130 shares of company stock worth $16,355,220 in the last quarter. Company insiders own 5.19% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Protagonist Therapeutics by 27.2% during the 4th quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock worth $472,832,000 after buying an additional 1,156,461 shares during the period. State Street Corp grew its stake in Protagonist Therapeutics by 18.5% in the second quarter. State Street Corp now owns 3,207,543 shares of the company’s stock valued at $177,281,000 after acquiring an additional 500,924 shares during the period. Wellington Management Group LLP grew its stake in Protagonist Therapeutics by 66.2% in the fourth quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock valued at $276,992,000 after acquiring an additional 1,262,977 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Protagonist Therapeutics by 9.1% during the first quarter. Janus Henderson Group PLC now owns 2,891,527 shares of the company’s stock valued at $304,866,000 after acquiring an additional 241,546 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Protagonist Therapeutics by 46.1% during the fourth quarter. UBS Group AG now owns 2,770,021 shares of the company’s stock valued at $241,934,000 after acquiring an additional 874,013 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Trading Up 3.0%

Shares of PTGX opened at $138.31 on Friday. The stock has a market capitalization of $8.89 billion, a P/E ratio of -76.41 and a beta of 1.79. The firm’s fifty day simple moving average is $114.88 and its two-hundred day simple moving average is $100.41. Protagonist Therapeutics has a 12 month low of $50.49 and a 12 month high of $143.29.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.55. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The firm had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. As a group, research analysts predict that Protagonist Therapeutics will post 2.93 EPS for the current fiscal year.

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.