HC Wainwright Reaffirms “Buy” Rating for Protagonist Therapeutics (NASDAQ:PTGX)

Protagonist Therapeutics (NASDAQ:PTGX)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $50.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 15.82% from the company’s previous close.

PTGX has been the subject of a number of other reports. Wedbush reissued an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Monday, November 4th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, BTIG Research upped their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $53.57.

Protagonist Therapeutics Trading Down 7.2 %

NASDAQ:PTGX opened at $43.17 on Monday. The company has a market capitalization of $2.54 billion, a P/E ratio of 16.23 and a beta of 2.17. The business’s 50-day moving average is $45.61 and its 200 day moving average is $38.33. Protagonist Therapeutics has a 12 month low of $15.05 and a 12 month high of $48.89.

Insider Activity

In related news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at $540,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Protagonist Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after acquiring an additional 39,055 shares in the last quarter. Seven Eight Capital LP increased its position in Protagonist Therapeutics by 426.9% during the 2nd quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after purchasing an additional 29,810 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Protagonist Therapeutics by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock valued at $7,079,000 after purchasing an additional 17,065 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $1,107,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Protagonist Therapeutics during the second quarter valued at approximately $2,112,000. 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.