Protagonist Therapeutics (NASDAQ:PTGX) Given New $178.00 Price Target at BMO Capital Markets

Protagonist Therapeutics (NASDAQ:PTGX) had its target price increased by equities research analysts at BMO Capital Markets from $112.00 to $178.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 14.76% from the stock’s previous close.

A number of other equities research analysts have also issued reports on PTGX. 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. Citizens Jmp raised their price target on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Finally, UBS Group upgraded shares of Protagonist Therapeutics to a “buy” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.53.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX opened at $155.10 on Monday. Protagonist Therapeutics has a 1 year low of $54.18 and a 1 year high of $155.53. The firm has a market capitalization of $10.04 billion, a PE ratio of 150.58 and a beta of 1.78. The business’s 50 day moving average price is $129.77 and its 200-day moving average price is $107.77.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.27 by $0.02. The firm had revenue of $213.47 million during 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%.The firm’s quarterly revenue was up 3746.8% on a year-over-year basis. As a group, analysts expect that Protagonist Therapeutics will post 4.22 earnings per share for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 34,239 shares of Protagonist Therapeutics stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $148.52, for a total transaction of $5,085,176.28. Following the transaction, the chief executive officer owned 523,478 shares in the company, valued at $77,746,952.56. The trade was a 6.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the transaction, the director directly owned 7,825 shares in the company, valued at approximately $922,880.50. The trade was a 53.49% 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. Over the last 90 days, insiders sold 127,000 shares of company stock valued at $17,818,139. 5.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds have recently modified their holdings of PTGX. Keating Financial Advisory Services Inc. purchased a new position in Protagonist Therapeutics during the second quarter worth about $30,000. Allworth Financial LP purchased a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its stake in shares of Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 156 shares during the period. Greenline Wealth Management LLC acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth approximately $27,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Protagonist Therapeutics during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.