Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Receives $147.13 Average PT from Analysts

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been given an average rating of “Moderate Buy” by the eighteen brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $147.1333.

PTGX has been the topic of several analyst reports. Truist Financial upped their target price on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wolfe Research restated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday, August 31st. 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 research note on Monday, August 10th. Johnson Rice set a $165.00 price objective on shares of Protagonist Therapeutics in a report on Friday, July 17th. Finally, Barclays raised their price objective on shares of Protagonist Therapeutics from $153.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $148.18 on Monday. The stock’s fifty day simple moving average is $143.14 and its 200 day simple moving average is $117.17. Protagonist Therapeutics has a one year low of $57.90 and a one year high of $160.81. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 143.87 and a beta of 1.80.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data 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 firm had revenue of $213.47 million during the quarter, compared to analyst estimates of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.Protagonist Therapeutics’s quarterly revenue was up 3746.8% compared to the same quarter last year. On average, research analysts anticipate that Protagonist Therapeutics will post 4.22 earnings per share for the current year.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 9,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the transaction, the director owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. The trade was a 53.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 7,278 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $144.10, for a total value of $1,048,759.80. Following the sale, the chief executive officer owned 522,968 shares in the company, valued at $75,359,688.80. The trade was a 1.37% 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. Over the last 90 days, insiders have sold 234,000 shares of company stock worth $34,192,827. 5.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in shares of Protagonist Therapeutics by 30.6% in the first quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after acquiring an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Protagonist Therapeutics by 0.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after buying an additional 348 shares in the last quarter. Millennium Management LLC boosted its position in Protagonist Therapeutics by 283.6% in the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after buying an additional 99,269 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at $987,000. Finally, Guggenheim Capital LLC raised its position in shares of Protagonist Therapeutics by 1.6% during the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after acquiring an additional 303 shares during the last quarter. 98.63% of the stock is owned by institutional investors.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist’s pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.