Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $88.00

Protagonist Therapeutics (NASDAQ:PTGX) had its target price raised by Barclays from $72.00 to $88.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

PTGX has been the topic of a number of other reports. JMP Securities raised their price target on Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Wedbush increased their price target on Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Leerink Partners assumed coverage on Protagonist Therapeutics in a report on Friday, September 12th. They set an “outperform” rating and a $73.00 price target on the stock. Citigroup boosted their price objective on Protagonist Therapeutics from $72.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.08.

Protagonist Therapeutics Trading Up 4.6%

NASDAQ:PTGX traded up $3.69 during mid-day trading on Friday, reaching $83.23. The company’s stock had a trading volume of 1,027,427 shares, compared to its average volume of 1,005,598. The stock has a market cap of $5.20 billion, a P/E ratio of 134.24 and a beta of 2.21. The firm’s fifty day moving average price is $68.54 and its two-hundred day moving average price is $57.64. Protagonist Therapeutics has a 12-month low of $33.31 and a 12-month high of $93.25.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.03). The company had revenue of $4.71 million for the quarter, compared to analysts’ expectations of $5.41 million. Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. Analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 12,000 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $81.62, for a total value of $979,440.00. Following the completion of the transaction, the director directly owned 5,130 shares of the company’s stock, valued at approximately $418,710.60. This trade represents a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 20,000 shares of company stock worth $1,473,440. 4.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Protagonist Therapeutics

A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Protagonist Therapeutics by 138.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $36,000 after acquiring an additional 314 shares during the last quarter. Citigroup Inc. raised its position in Protagonist Therapeutics by 95.7% during the third quarter. Citigroup Inc. now owns 152,580 shares of the company’s stock valued at $10,136,000 after purchasing an additional 74,629 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at approximately $391,000. PNC Financial Services Group Inc. boosted its holdings in shares of Protagonist Therapeutics by 13.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,738 shares of the company’s stock worth $182,000 after purchasing an additional 324 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new stake in Protagonist Therapeutics during the 3rd quarter valued at $62,000. 98.63% of the stock is currently owned by institutional investors.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.