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.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.01). Protagonist Therapeutics had a negative net margin of 70.54% and a negative return on equity of 24.08%. The firm had revenue of $6.12 million for the quarter, compared to analyst estimates of $6.35 million. Research analysts predict that Protagonist Therapeutics will post -1.58 earnings per share for the current year.

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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