Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $72.00

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective lifted by BMO Capital Markets from $62.00 to $72.00 in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research note on Monday, March 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $54.00 price objective on shares of Protagonist Therapeutics in a report on Monday. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $61.22.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $54.90 on Tuesday. The firm has a market cap of $3.37 billion, a PE ratio of 20.64 and a beta of 2.34. Protagonist Therapeutics has a 1 year low of $24.22 and a 1 year high of $60.60. The stock has a fifty day moving average price of $39.32 and a 200-day moving average price of $42.15.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $2.07. The business had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, equities analysts anticipate that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the sale, the chief executive officer now owns 540,260 shares in the company, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several large investors have recently made changes to their positions in PTGX. Janney Montgomery Scott LLC bought a new position in Protagonist Therapeutics during the 3rd quarter valued at approximately $866,000. Amalgamated Bank raised its holdings in shares of Protagonist Therapeutics by 756.4% during the third quarter. Amalgamated Bank now owns 17,324 shares of the company’s stock valued at $780,000 after purchasing an additional 15,301 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Protagonist Therapeutics in the 3rd quarter worth $312,000. Victory Capital Management Inc. boosted its position in Protagonist Therapeutics by 1,729.3% in the third quarter. Victory Capital Management Inc. now owns 130,797 shares of the company’s stock worth $5,886,000 after purchasing an additional 123,647 shares during the last quarter. Finally, Mutual of America Capital Management LLC purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at about $399,000. 98.63% of the stock is currently owned by hedge funds and other 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.