Protagonist Therapeutics (NASDAQ:PTGX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday.

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. “

PTGX has been the subject of a number of other research reports. ValuEngine downgraded Protagonist Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 11th. BMO Capital Markets dropped their price objective on Protagonist Therapeutics from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 19th. Finally, BidaskClub downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $32.67.

Shares of Protagonist Therapeutics (PTGX) opened at $20.48 on Thursday. The company has a market capitalization of $418.39 and a PE ratio of -7.37. Protagonist Therapeutics has a fifty-two week low of $8.00 and a fifty-two week high of $21.80.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.40. The company had revenue of $8.78 million during the quarter. equities analysts expect that Protagonist Therapeutics will post -3.66 earnings per share for the current fiscal year.

In other Protagonist Therapeutics news, insider Dinesh V. Ph D. Patel sold 1,790 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $19.55, for a total value of $34,994.50. Following the completion of the sale, the insider now directly owns 192,227 shares in the company, valued at $3,758,037.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Y. Liu sold 7,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $16.97, for a total value of $118,790.00. The disclosure for this sale can be found here. Insiders sold 22,069 shares of company stock valued at $421,129 over the last 90 days. Corporate insiders own 15.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers bought a new stake in shares of Protagonist Therapeutics in the second quarter worth about $114,000. Wells Fargo & Company MN increased its holdings in shares of Protagonist Therapeutics by 60.8% in the third quarter. Wells Fargo & Company MN now owns 9,565 shares of the company’s stock worth $169,000 after acquiring an additional 3,617 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Protagonist Therapeutics by 71.4% in the second quarter. Teachers Advisors LLC now owns 16,218 shares of the company’s stock worth $183,000 after acquiring an additional 6,757 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Protagonist Therapeutics by 8.5% in the second quarter. California State Teachers Retirement System now owns 16,600 shares of the company’s stock worth $188,000 after acquiring an additional 1,300 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Protagonist Therapeutics by 19.5% in the second quarter. TIAA CREF Investment Management LLC now owns 23,372 shares of the company’s stock worth $264,000 after acquiring an additional 3,812 shares in the last quarter. Institutional investors own 39.68% of the company’s stock.

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About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs.

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