Protagonist Therapeutics (NASDAQ:PTGX) Price Target Cut to $28.00 by Analysts at JMP Securities

Protagonist Therapeutics (NASDAQ:PTGX – Get Rating) had its price target dropped by investment analysts at JMP Securities from $31.00 to $28.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price indicates a potential upside of 24.89% from the stock’s current price.

Several other brokerages have also recently issued reports on PTGX. StockNews.com started coverage on shares of Protagonist Therapeutics in a report on Thursday. They set a “hold” rating on the stock. BTIG Research dropped their target price on shares of Protagonist Therapeutics to $41.00 in a report on Wednesday, November 16th. Finally, HC Wainwright increased their target price on shares of Protagonist Therapeutics from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Protagonist Therapeutics Price Performance

PTGX stock opened at $22.42 on Thursday. The company has a market capitalization of $1.10 billion, a PE ratio of -8.37 and a beta of 2.01. Protagonist Therapeutics has a 12 month low of $6.91 and a 12 month high of $27.41. The firm’s 50-day moving average is $16.12 and its 200 day moving average is $11.22.

Institutional Trading of Protagonist Therapeutics

Several hedge funds have recently modified their holdings of the company. State Street Corp lifted its position in shares of Protagonist Therapeutics by 108.1% during the second quarter. State Street Corp now owns 6,776,269 shares of the company’s stock valued at $53,600,000 after buying an additional 3,519,461 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Protagonist Therapeutics by 7.6% during the third quarter. Vanguard Group Inc. now owns 2,942,767 shares of the company’s stock valued at $24,807,000 after buying an additional 208,002 shares during the last quarter. Morgan Stanley lifted its position in shares of Protagonist Therapeutics by 9.5% during the fourth quarter. Morgan Stanley now owns 2,438,517 shares of the company’s stock valued at $26,604,000 after buying an additional 210,942 shares during the last quarter. Bain Capital Life Sciences Investors LLC purchased a new stake in shares of Protagonist Therapeutics during the second quarter valued at about $17,881,000. Finally, Marshall Wace LLP lifted its position in shares of Protagonist Therapeutics by 78.5% during the fourth quarter. Marshall Wace LLP now owns 1,454,446 shares of the company’s stock valued at $15,868,000 after buying an additional 639,720 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

About Protagonist Therapeutics

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Protagonist Therapeutics, Inc a clinical-stage biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address unmet medical needs. Its product pipeline include PTG-300, PTG-200, and PN-943 The company was founded by Mark L. Smythe on August 22, 2006 and is headquartered in Newark, CA.