Protagonist Therapeutics’ (PTGX) “Buy” Rating Reiterated at HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $38.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 34.42% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. JMP Securities increased their target price on shares of Protagonist Therapeutics from $42.00 to $45.00 and gave the stock a “market outperform” rating in a research report on Wednesday. StockNews.com raised Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Protagonist Therapeutics Stock Up 4.3 %

Shares of PTGX traded up $1.16 during mid-day trading on Thursday, reaching $28.27. The company’s stock had a trading volume of 599,442 shares, compared to its average volume of 675,978. The business has a fifty day moving average of $27.89 and a 200 day moving average of $23.89. Protagonist Therapeutics has a 1 year low of $13.72 and a 1 year high of $33.34. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 11.49 and a beta of 2.09.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.39. The firm had revenue of $60.00 million during the quarter, compared to analyst estimates of $60.00 million. On average, analysts predict that Protagonist Therapeutics will post 1.18 earnings per share for the current year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 14,248 shares of the stock in a transaction on Friday, March 1st. The stock was 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 directly owns 38,397 shares in the company, valued at $1,237,919.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Asif Ali sold 14,248 shares of Protagonist Therapeutics stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $32.24, for a total value of $459,355.52. Following the completion of the transaction, the chief financial officer now owns 38,397 shares in the company, valued at $1,237,919.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 25,000 shares of Protagonist Therapeutics stock in a transaction on Monday, April 1st. The shares were 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 owns 549,590 shares of the company’s stock, valued at approximately $15,558,892.90. The disclosure for this sale can be found here. Insiders have sold a total of 83,457 shares of company stock valued at $2,553,328 in the last 90 days. 5.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors have recently modified their holdings of PTGX. ProShare Advisors LLC raised its holdings in Protagonist Therapeutics by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock worth $415,000 after purchasing an additional 1,206 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics in the first quarter valued at approximately $35,000. Sei Investments Co. grew its holdings in Protagonist Therapeutics by 12.2% during the 1st quarter. Sei Investments Co. now owns 41,758 shares of the company’s stock worth $1,208,000 after acquiring an additional 4,529 shares during the period. GSA Capital Partners LLP raised its position in shares of Protagonist Therapeutics by 179.8% during the 1st quarter. GSA Capital Partners LLP now owns 55,359 shares of the company’s stock valued at $1,602,000 after acquiring an additional 35,571 shares during the last quarter. Finally, Privium Fund Management B.V. acquired a new position in shares of Protagonist Therapeutics in the 1st quarter valued at $3,299,000. 98.63% of the stock is owned by institutional investors.

About Protagonist Therapeutics

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.