Protagonist Therapeutics (NASDAQ:PTGX) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Protagonist Therapeutics (NASDAQ:PTGXGet Rating) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Separately, JMP Securities started coverage on Protagonist Therapeutics in a report on Thursday, August 25th. They set an outperform rating and a $21.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of Moderate Buy and an average price target of $43.71.

Protagonist Therapeutics Stock Up 4.5 %

Shares of NASDAQ PTGX opened at $8.38 on Tuesday. The firm’s 50-day simple moving average is $9.73 and its 200 day simple moving average is $12.94. The company has a market cap of $411.32 million, a price-to-earnings ratio of -3.06 and a beta of 2.56. Protagonist Therapeutics has a 12-month low of $6.91 and a 12-month high of $38.11.

Protagonist Therapeutics (NASDAQ:PTGXGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.99) by $0.15. The firm had revenue of $0.86 million during the quarter, compared to analysts’ expectations of $2.30 million. Protagonist Therapeutics had a negative return on equity of 44.25% and a negative net margin of 291.70%. On average, equities analysts expect that Protagonist Therapeutics will post -3.24 earnings per share for the current year.

Institutional Trading of Protagonist Therapeutics

A number of large investors have recently bought and sold shares of the business. ExodusPoint Capital Management LP acquired a new position in Protagonist Therapeutics during the 2nd quarter worth approximately $879,000. Walleye Capital LLC boosted its holdings in shares of Protagonist Therapeutics by 670.8% in the 2nd quarter. Walleye Capital LLC now owns 257,357 shares of the company’s stock valued at $2,036,000 after buying an additional 223,967 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Protagonist Therapeutics by 82.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 631,916 shares of the company’s stock valued at $4,999,000 after buying an additional 285,557 shares during the last quarter. Corton Capital Inc. acquired a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at approximately $86,000. Finally, Delphia USA Inc. bought a new stake in Protagonist Therapeutics in the 2nd quarter valued at $94,000.

About Protagonist Therapeutics

(Get Rating)

Protagonist Therapeutics, Inc, a biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing rusfertide (PTG-300), an injectable hepcidin mimetic that is in Phase II clinical trials for the treatment of patients with polycythemia vera and hereditary hemochromatosis, as well as for the treatment of other blood disorders; PN-943, an oral, alpha-4-beta-7 integrin- specific antagonist peptide that is in Phase II clinical trials for treating inflammatory bowel disease (IBD); and PN-235, an orally delivered interleukin-23 receptor specific antagonist for the treatment of IBD and non-IBD indications.

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