Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $53.78 Average Price Target from Brokerages

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have been given an average recommendation of “Buy” by the nine ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $53.78.

Several analysts recently commented on PTGX shares. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, December 10th. BMO Capital Markets assumed coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 target price on the stock. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, Wedbush reiterated 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 Stock Performance

Shares of NASDAQ PTGX opened at $36.82 on Wednesday. Protagonist Therapeutics has a 52 week low of $23.17 and a 52 week high of $48.89. The stock has a 50 day moving average price of $40.55 and a 200 day moving average price of $41.72. The stock has a market capitalization of $2.19 billion, a PE ratio of 13.84 and a beta of 2.23.

Insider Buying and Selling at Protagonist Therapeutics

In other news, insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction 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. The trade was a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.96, for a total value of $3,687,299.20. Following the transaction, the chief executive officer now owns 435,208 shares in the company, valued at $20,437,367.68. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,863 shares of company stock worth $9,689,847 over the last 90 days. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. grew its holdings in Protagonist Therapeutics by 405,061.2% in 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 during the last quarter. State Street Corp raised its position in shares of Protagonist Therapeutics by 52.9% in the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after purchasing an additional 1,101,218 shares during the last quarter. Millennium Management LLC grew its position in Protagonist Therapeutics by 2,135.6% during the 2nd quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock worth $33,205,000 after purchasing an additional 915,418 shares during the last quarter. Principal Financial Group Inc. raised its holdings 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 buying an additional 310,804 shares during the last quarter. Finally, Perceptive Advisors LLC lifted its stake 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 buying an additional 274,412 shares during the period. Hedge funds and other institutional investors 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.