Protagonist Therapeutics (PTGX) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a sell rating to a hold rating in a report issued on Wednesday.
According to Zacks, “Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a proprietary technology platform focused on discovering and developing peptide-based new chemical entities to address significant unmet medical needs. The Company’s initial lead product candidates consists of PTG-100 and PTG-200, which have the potential to transform the existing treatment paradigm for inflammatory bowel disease, a GI disease consisting primarily of ulcerative colitis and Crohn’s disease; PTG-300, an injectable hepcidin mimetic. Protagonist Therapeutics, Inc. is based in Milpitas, United States. “
Shares of PTGX opened at $6.73 on Wednesday. Protagonist Therapeutics has a 12-month low of $5.49 and a 12-month high of $23.97.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings 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 purchasing an additional 20,319 shares during the last quarter. Trexquant Investment LP bought a new stake in Protagonist Therapeutics in the third quarter valued at about $304,000. LMR Partners LLP bought a new stake in Protagonist Therapeutics in the second quarter valued at about $210,000. Eqis Capital Management Inc. bought a new stake in Protagonist Therapeutics in the second quarter valued at about $236,000. Finally, Monashee Investment Management LLC bought a new stake in Protagonist Therapeutics in the third quarter valued at about $442,000. Institutional investors and hedge funds own 66.20% of the company’s stock.
About Protagonist Therapeutics
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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