By otakuyassine3@gmail.com 
Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Get Free Report) have received an average recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $56.00.
Several analysts have weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. The Goldman Sachs Group started coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They set a “neutral” rating and a $47.00 price objective on the stock. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th.
View Our Latest Analysis on PTGX
Protagonist Therapeutics Trading Up 3.4 %
Shares of NASDAQ PTGX opened at $38.68 on Friday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 14.54 and a beta of 2.22. Protagonist Therapeutics has a twelve month low of $24.22 and a twelve month high of $48.89. The business has a 50 day simple moving average of $38.74 and a 200-day simple moving average of $41.83.
Insider Activity
In other news, insider Suneel Gupta sold 103,437 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the transaction, the insider now owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. This represents a 28.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the sale, the chief executive officer now owns 435,208 shares in the company, valued at approximately $20,437,367.68. This represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,957 shares of company stock valued at $9,611,739. Insiders own 5.40% of the company’s stock.
Institutional Trading of Protagonist Therapeutics
Institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in Protagonist Therapeutics by 127.2% during the third quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock worth $3,782,000 after purchasing an additional 45,674 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at $1,107,000. Swedbank AB bought a new stake in shares of Protagonist Therapeutics in the 3rd quarter worth $2,250,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Protagonist Therapeutics by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock valued at $25,448,000 after buying an additional 39,850 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after buying an additional 310,804 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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