JMP Securities Increases Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $45.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective increased by JMP Securities from $42.00 to $45.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 63.93% from the company’s previous close.

PTGX has been the subject of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upped their price objective on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Finally, StockNews.com upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX traded up $1.66 during midday trading on Wednesday, hitting $27.45. 438,684 shares of the stock were exchanged, compared to its average volume of 672,867. The company has a market capitalization of $1.61 billion, a PE ratio of -17.87 and a beta of 2.09. Protagonist Therapeutics has a 52-week low of $13.72 and a 52-week high of $33.34. The business’s fifty day simple moving average is $27.96 and its two-hundred day simple moving average is $23.87.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.39. The firm had revenue of $60.00 million for the quarter, compared to analysts’ expectations of $60.00 million. As a group, equities analysts anticipate that Protagonist Therapeutics will post 1.18 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 14,248 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $32.24, for a total transaction of $459,355.52. Following the completion of the transaction, the chief financial officer now owns 38,397 shares of the company’s stock, valued at approximately $1,237,919.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,248 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $32.24, for a total value of $459,355.52. Following the sale, the chief financial officer now owns 38,397 shares of the company’s stock, valued at approximately $1,237,919.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dinesh V. Ph D. Patel sold 25,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $28.31, for a total value of $707,750.00. Following the completion of the transaction, the chief executive officer now directly owns 549,590 shares in the company, valued at $15,558,892.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,457 shares of company stock worth $2,553,328. 5.00% of the stock is owned by insiders.

Institutional Trading of Protagonist Therapeutics

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in shares of Protagonist Therapeutics during the 1st quarter worth about $35,000. China Universal Asset Management Co. Ltd. raised its holdings in Protagonist Therapeutics by 96.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,473 shares of the company’s stock valued at $25,000 after acquiring an additional 723 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Protagonist Therapeutics in the 4th quarter worth approximately $210,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Protagonist Therapeutics by 11.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,338 shares of the company’s stock worth $237,000 after purchasing an additional 1,093 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Protagonist Therapeutics by 6.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,954 shares of the company’s stock worth $216,000 after purchasing an additional 740 shares in the last quarter. 98.63% of the stock is owned by institutional investors.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.