Protagonist Therapeutics (NASDAQ:PTGX) Given New $50.00 Price Target at HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX) had its target price upped by stock analysts at HC Wainwright from $40.00 to $50.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 6.34% from the stock’s previous close.

Several other research analysts also recently issued reports on PTGX. JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock. BTIG Research raised their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, JMP Securities lowered their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $47.33.

Protagonist Therapeutics Price Performance

NASDAQ PTGX opened at $47.02 on Thursday. The firm’s fifty day moving average price is $39.76 and its 200 day moving average price is $33.19. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 19.27 and a beta of 2.17. Protagonist Therapeutics has a 12 month low of $13.72 and a 12 month high of $47.15.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million. As a group, sell-side analysts forecast that Protagonist Therapeutics will post 2.31 earnings per share for the current year.

Insider Activity at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the firm’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 transaction of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the sale, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. The disclosure for this sale can be found here. Insiders sold 30,203 shares of company stock worth $1,311,891 over the last 90 days. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds have recently bought and sold shares of PTGX. Charles Schwab Investment Management Inc. grew its holdings in Protagonist Therapeutics by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 455,321 shares of the company’s stock valued at $10,441,000 after buying an additional 16,219 shares during the period. Kynam Capital Management LP lifted its holdings in shares of Protagonist Therapeutics by 10.2% during the 4th quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock worth $45,972,000 after acquiring an additional 186,218 shares during the period. Superstring Capital Management LP purchased a new position in shares of Protagonist Therapeutics during the 4th quarter worth about $8,694,000. ADAR1 Capital Management LLC purchased a new position in shares of Protagonist Therapeutics during the 4th quarter worth about $4,606,000. Finally, Birchview Capital LP lifted its holdings in shares of Protagonist Therapeutics by 26.3% during the 4th quarter. Birchview Capital LP now owns 48,000 shares of the company’s stock worth $1,101,000 after acquiring an additional 10,000 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

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.