Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Average Rating of “Buy” by Brokerages

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been given an average recommendation of “Buy” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $53.57.

PTGX has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Wedbush reiterated an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Truist Financial initiated coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th.

Protagonist Therapeutics Stock Down 2.0 %

Shares of PTGX opened at $45.53 on Tuesday. Protagonist Therapeutics has a 12-month low of $16.80 and a 12-month high of $48.89. The business’s fifty day moving average is $45.24 and its 200 day moving average is $39.47. The stock has a market cap of $2.71 billion, a P/E ratio of 17.12 and a beta of 2.17.

Insider Transactions at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the sale, the insider now owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. This trade represents a 3.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,109 shares of company stock worth $1,069,999 in the last ninety days. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Large investors have recently added to or reduced their stakes in the company. Farallon Capital Management LLC grew its holdings in Protagonist Therapeutics by 1.8% during the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock valued at $202,383,000 after buying an additional 101,800 shares in the last quarter. RTW Investments LP grew its holdings in Protagonist Therapeutics by 2.6% during the 3rd quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock valued at $244,175,000 after buying an additional 139,708 shares in the last quarter. Vanguard Group Inc. grew its holdings in Protagonist Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after buying an additional 39,055 shares in the last quarter. State Street Corp grew its holdings in Protagonist Therapeutics by 52.9% during the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after buying an additional 1,101,218 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Protagonist Therapeutics by 405,061.2% during the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock valued at $78,034,000 after buying an additional 1,733,662 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.