Nomura Initiates Coverage on Protagonist Therapeutics (PTGX)
Nomura assumed coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note released on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $13.00 price objective on the stock.
Separately, Zacks Investment Research cut shares of Protagonist Therapeutics from a hold rating to a sell rating in a research report on Saturday, November 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $20.50.
Shares of PTGX stock traded up $0.25 during mid-day trading on Thursday, hitting $7.02. 4,436 shares of the stock traded hands, compared to its average volume of 130,814. The stock has a market cap of $154.07 million, a PE ratio of -3.36 and a beta of 3.30. Protagonist Therapeutics has a twelve month low of $5.49 and a twelve month high of $23.97.
Several large investors have recently bought and sold shares of PTGX. Bank of America Corp DE boosted its stake in Protagonist Therapeutics by 2,262.7% in the second quarter. Bank of America Corp DE now owns 21,217 shares of the company’s stock valued at $143,000 after acquiring an additional 20,319 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at $210,000. Eqis Capital Management Inc. purchased a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at $236,000. Trexquant Investment LP purchased a new stake in Protagonist Therapeutics during the 3rd quarter valued at $304,000. Finally, Algert Global LLC purchased a new stake in shares of Protagonist Therapeutics in the 2nd quarter worth about $349,000. 66.20% of the stock is owned by institutional investors.
Protagonist Therapeutics Company Profile
Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing peptide-based drugs to address various unmet medical needs. The company's lead product candidates include PTG-100, an oral alpha-4-beta-7 integrin- antagonist that is in Phase II b clinical trial for the treatment of ulcerative colitis, as well as for treating chronic pouchitis, a gastrointestinal (GI) condition that occurs in post-surgical inflammatory bowel disease (IBD) patients; PTG-200, an oral interleukin-23 receptor antagonist, which is in Phase I clinical trial for the treatment of IBD; and PTG-300, an injectable hepcidin mimetic, which has completed Phase I study for use in the treatment of beta-thalassemia, as well as for treating other diseases, such as hereditary hemochromatosis, polycythemia vera, siderophilic infections, and liver fibrosis.
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