Brokerages Set Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Price Target at $53.78

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has received a consensus recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $53.78.

Several equities analysts have issued reports on PTGX shares. The Goldman Sachs Group started coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, December 10th. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Truist Financial initiated coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th.

Protagonist Therapeutics Price Performance

Protagonist Therapeutics stock opened at $39.30 on Friday. Protagonist Therapeutics has a 12 month low of $21.43 and a 12 month high of $48.89. The stock has a market capitalization of $2.34 billion, a PE ratio of 14.77 and a beta of 2.18. The business has a 50 day simple moving average of $43.74 and a 200-day simple moving average of $41.09.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Suneel Gupta sold 103,437 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the completion of the sale, the insider now directly owns 256,174 shares in the company, valued at $11,794,250.96. This trade represents a 28.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the sale, the insider now directly owns 46,444 shares in the company, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,863 shares of company stock worth $9,689,847 in the last quarter. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its position in shares of Protagonist Therapeutics by 405,061.2% during the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after purchasing an additional 1,733,662 shares in the last quarter. State Street Corp lifted 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 worth $143,259,000 after buying an additional 1,101,218 shares in the last quarter. Millennium Management LLC boosted its position in Protagonist Therapeutics by 2,135.6% in the 2nd quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock valued at $33,205,000 after buying an additional 915,418 shares during the period. Principal Financial Group Inc. grew its stake in shares of Protagonist Therapeutics by 3,099.4% in the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock worth $14,437,000 after acquiring an additional 310,804 shares in the last quarter. Finally, Perceptive Advisors LLC increased its position in shares of Protagonist Therapeutics by 27.6% during the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after acquiring an additional 274,412 shares during the period. Institutional investors and hedge funds 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.