BidaskClub Lowers Protagonist Therapeutics (PTGX) to Sell

BidaskClub cut shares of Protagonist Therapeutics (NASDAQ:PTGX) from a hold rating to a sell rating in a research report report published on Friday.

Other analysts have also recently issued reports about the company. Zacks Investment Research raised Protagonist Therapeutics from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Tuesday, March 13th. BMO Capital Markets reaffirmed an outperform rating and set a $42.00 price objective (down from $44.00) on shares of Protagonist Therapeutics in a research report on Thursday, March 8th. Finally, Stifel Nicolaus began coverage on Protagonist Therapeutics in a research report on Monday, January 29th. They set a buy rating and a $32.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Protagonist Therapeutics has a consensus rating of Hold and an average price target of $34.00.

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Protagonist Therapeutics (NASDAQ:PTGX) traded up $0.70 during trading on Friday, reaching $20.43. The company’s stock had a trading volume of 256,282 shares, compared to its average volume of 129,485. The company has a market cap of $416.38, a PE ratio of -9.41 and a beta of 1.62. Protagonist Therapeutics has a fifty-two week low of $8.00 and a fifty-two week high of $23.97.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, March 7th. The company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.19. The firm had revenue of $11.28 million for the quarter, compared to the consensus estimate of $8.75 million. research analysts forecast that Protagonist Therapeutics will post -1.3 earnings per share for the current fiscal year.

In other news, insider David Y. Liu sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $21.29, for a total value of $74,515.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder X L.P. Canaan sold 39,518 shares of the business’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $20.61, for a total value of $814,465.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,492 shares of company stock worth $1,639,355. Insiders own 15.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System boosted its position in shares of Protagonist Therapeutics by 8.5% in the 2nd quarter. California State Teachers Retirement System now owns 16,600 shares of the company’s stock worth $188,000 after purchasing an additional 1,300 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Protagonist Therapeutics by 60.8% in the 3rd quarter. Wells Fargo & Company MN now owns 9,565 shares of the company’s stock worth $169,000 after purchasing an additional 3,617 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Protagonist Therapeutics by 19.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 23,372 shares of the company’s stock worth $264,000 after purchasing an additional 3,812 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Protagonist Therapeutics by 33.1% in the 4th quarter. Teachers Advisors LLC now owns 21,593 shares of the company’s stock worth $449,000 after purchasing an additional 5,375 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Protagonist Therapeutics by 1,086.0% in the 4th quarter. Bank of Montreal Can now owns 5,930 shares of the company’s stock worth $123,000 after purchasing an additional 5,430 shares in the last quarter. 56.08% of the stock is currently owned by hedge funds and other institutional investors.

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Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs.

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