Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Given Average Rating of "Moderate Buy" by Analysts
Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has received a consensus rating of "Moderate Buy" from fourteen brokerages. Analysts' ratings include one sell, one hold, eleven buy, and one strong buy. The average price target is $82.23. Recent ratings include BMO Capital Markets' "outperform" and Wedbush's increase of the price target to $86.00. The stock opened at $83.23, with a market cap of $5.20 billion. The company reported a quarterly EPS of ($0.62), missing estimates, and had revenue of $4.71 million.
Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $82.2308.
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Several analysts have recently commented on PTGX shares. BMO Capital Markets restated an "outperform" rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. Wedbush lifted their price target on Protagonist Therapeutics from $70.00 to $86.00 and gave the company an "outperform" rating in a research note on Tuesday, October 28th. Citigroup increased their price objective on Protagonist Therapeutics from $96.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday. HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. Finally, BTIG Research reaffirmed a "buy" rating and set a $82.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, October 28th.
Read Our Latest Stock Report on Protagonist Therapeutics
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In other Protagonist Therapeutics news, Director William D. Waddill sold 12,000 shares of the stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $81.62, for a total value of $979,440.00. Following the completion of the transaction, the director directly owned 5,130 shares of the company's stock, valued at approximately $418,710.60. This trade represents a 70.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 20,000 shares of company stock worth $1,473,440 in the last quarter. Corporate insiders own 4.90% of the company's stock.
Institutional Investors Weigh In On Protagonist Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of PTGX. Envestnet Asset Management Inc. raised its holdings in Protagonist Therapeutics by 85.7% during the first quarter. Envestnet Asset Management Inc. now owns 16,679 shares of the company's stock worth $807,000 after purchasing an additional 7,698 shares during the last quarter. Xponance Inc. purchased a new position in shares of Protagonist Therapeutics in the first quarter valued at $216,000. New York State Common Retirement Fund raised its stake in shares of Protagonist Therapeutics by 9.5% during the 1st quarter. New York State Common Retirement Fund now owns 19,582 shares of the company's stock worth $947,000 after buying an additional 1,700 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Protagonist Therapeutics in the 1st quarter worth about $886,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Protagonist Therapeutics in the first quarter valued at about $975,000. Institutional investors and hedge funds own 98.63% of the company's stock.
Protagonist Therapeutics Trading Up 4.6%
Shares of NASDAQ PTGX opened at $83.23 on Tuesday. The stock has a market cap of $5.20 billion, a P/E ratio of 134.24 and a beta of 2.21. The business's fifty day simple moving average is $69.03 and its 200-day simple moving average is $57.91. Protagonist Therapeutics has a 12-month low of $33.31 and a 12-month high of $93.25.
Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.03). Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%.The company had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. On average, equities analysts forecast that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.
About Protagonist Therapeutics
(Get Free Report)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.
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