Protagonist Therapeutics, Inc. (PTGX) – What Are Brokerages Thinking About This Stock?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has earned a consensus recommendation of “Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $163.27.

Several research analysts have issued reports on the company. TD Cowen increased their price objective on Protagonist Therapeutics from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Weiss Ratings lowered shares of Protagonist Therapeutics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Wedbush upped their price target on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Zacks Research raised shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 14th. Finally, Leerink Partners started coverage on shares of Protagonist Therapeutics in a report on Monday, October 12th. They issued an “outperform” rating and a $190.00 price target for the company.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 58,629 shares of the company’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total value of $8,312,419.62. Following the sale, the chief financial officer owned 59,003 shares of the company’s stock, valued at approximately $8,365,445.34. This represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $149.11, for a total value of $9,805,622.71. Following the completion of the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at approximately $78,055,804.58. This represents a 11.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 283,629 shares of company stock valued at $41,443,786 over the last ninety days. 5.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of large investors have recently added to or reduced their stakes in PTGX. Bank of America Corp DE acquired a new stake in Protagonist Therapeutics during the second quarter worth approximately $162,357,000. Johnson & Johnson acquired a new position in Protagonist Therapeutics in the 2nd quarter valued at $300,220,852. Hsbc Holdings PLC raised its holdings in Protagonist Therapeutics by 1,260.9% in the 2nd quarter. Hsbc Holdings PLC now owns 25,952 shares of the company’s stock valued at $3,198,000 after acquiring an additional 24,045 shares during the last quarter. Deutsche Bank AG acquired a new position in Protagonist Therapeutics in the 2nd quarter valued at $17,387,000. Finally, Stempoint Capital LP lifted its stake in shares of Protagonist Therapeutics by 22.1% during the 1st quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock worth $7,650,000 after purchasing an additional 13,147 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Stock Down 3.8%

Shares of NASDAQ:PTGX opened at $139.37 on Tuesday. The company has a market cap of $9.02 billion, a P/E ratio of 138.00 and a beta of 1.53. Protagonist Therapeutics has a 52 week low of $75.44 and a 52 week high of $160.81. The company has a 50-day moving average price of $142.63 and a 200 day moving average price of $116.76.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.02. The company had revenue of $213.47 million for the quarter, compared to analysts’ expectations of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%. The business’s revenue was up 3746.8% compared to the same quarter last year. Analysts expect that Protagonist Therapeutics will post 4.59 EPS for the current year.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on discovering and developing peptide-based medicines for immune-mediated and hematologic diseases. The company uses its proprietary peptide technology platform to design therapies intended to act on specific biological pathways and receptors.

Its leading program is icotrokinra, also known as JNJ-2113, an oral, targeted inhibitor of the interleukin-23 receptor being developed in collaboration with Janssen Pharmaceuticals for inflammatory and immune-mediated conditions, including psoriasis and inflammatory bowel diseases.