HC Wainwright Reaffirms “Buy” Rating for Protagonist Therapeutics (NASDAQ:PTGX)

HC Wainwright restated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a research note released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $80.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a report on Monday, March 3rd. Truist Financial lifted their price objective on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. JMP Securities reiterated a “market outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Finally, Wedbush reiterated an “outperform” rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.44.

Protagonist Therapeutics Trading Up 1.8%

NASDAQ:PTGX opened at $51.06 on Tuesday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 19.20 and a beta of 2.65. The firm has a fifty day simple moving average of $45.29 and a two-hundred day simple moving average of $42.74. Protagonist Therapeutics has a 12 month low of $28.96 and a 12 month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.31. The firm had revenue of $28.32 million during the quarter, compared to analysts’ expectations of $30.44 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Equities analysts predict that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the sale, the insider now owns 83,892 shares of the company’s stock, valued at approximately $4,676,140.08. The trade was a 26.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Asif Ali sold 1,756 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the sale, the chief financial officer now directly owns 61,065 shares in the company, valued at approximately $2,808,990. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,173 shares of company stock valued at $3,461,180 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its position in Protagonist Therapeutics by 36.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 216,069 shares of the company’s stock worth $8,340,000 after acquiring an additional 58,002 shares during the period. Charles Schwab Investment Management Inc. raised its position in Protagonist Therapeutics by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company’s stock worth $22,327,000 after acquiring an additional 12,906 shares during the period. Barclays PLC raised its position in Protagonist Therapeutics by 223.6% in the third quarter. Barclays PLC now owns 126,995 shares of the company’s stock worth $5,714,000 after acquiring an additional 87,755 shares during the period. Louisiana State Employees Retirement System raised its position in Protagonist Therapeutics by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after acquiring an additional 300 shares during the period. Finally, Victory Capital Management Inc. raised its position in Protagonist Therapeutics by 84.1% in the fourth quarter. Victory Capital Management Inc. now owns 240,817 shares of the company’s stock worth $9,296,000 after acquiring an additional 110,020 shares during the period. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.