Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock Has Average Price Target of $147.13

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) have earned a consensus rating of “Moderate Buy” from the eighteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $147.13.

Several research firms have recently commented on PTGX. Wall Street Zen upgraded Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 22nd. Truist Financial increased their target price on Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 10th. HC Wainwright lifted their price target on shares of Protagonist Therapeutics from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 31st. Johnson Rice set a $165.00 price target on shares of Protagonist Therapeutics in a research note on Friday, July 17th. Finally, Wedbush upped their price objective on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a report on Monday, August 10th.

Insider Transactions at Protagonist Therapeutics

In other news, CEO Dinsesh Patel sold 65,761 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the completion of the sale, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at $78,055,804.58. The trade was a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of the company’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total transaction of $8,312,419.62. Following the completion of the sale, the chief financial officer owned 59,003 shares in the company, valued at $8,365,445.34. This represents a 49.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 283,629 shares of company stock valued at $41,443,786 over the last quarter. Corporate insiders own 5.19% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP purchased a new position in shares of Protagonist Therapeutics during the second quarter valued at approximately $536,000. Arizona State Retirement System raised its position in Protagonist Therapeutics by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,085 shares of the company’s stock valued at $1,727,000 after buying an additional 347 shares during the last quarter. Nykredit A S bought a new position in Protagonist Therapeutics during the 2nd quarter valued at $296,000. Amundi lifted its position in shares of Protagonist Therapeutics by 87.0% during the second quarter. Amundi now owns 7,692 shares of the company’s stock valued at $943,000 after purchasing an additional 3,579 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Protagonist Therapeutics during the second quarter valued at about $1,373,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $138.69 on Friday. Protagonist Therapeutics has a one year low of $62.24 and a one year high of $160.81. The company has a market cap of $8.97 billion, a PE ratio of 134.65 and a beta of 1.53. The stock has a 50-day moving average of $145.31 and a 200-day moving average of $122.97.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.02. The business had revenue of $213.47 million for the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.Protagonist Therapeutics’s revenue for the quarter was up 3746.8% on a year-over-year basis. Analysts expect that Protagonist Therapeutics will post 4.22 EPS for the current fiscal year.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc (NASDAQ:PTGX) is a clinical-stage biopharmaceutical company focused on developing peptide-based medicines for chronic immune-mediated and hematologic diseases. The company uses its proprietary technology platform to design peptides intended to selectively interact with disease-relevant biological targets.

Protagonist’s pipeline includes icotrokinra, formerly known as JNJ-2113, an investigational oral peptide that selectively targets the interleukin-23 receptor.