Barclays Increases Protagonist Therapeutics (NASDAQ:PTGX) Price Target to $88.00

Protagonist Therapeutics (NASDAQ:PTGX) had its target price raised by Barclays from $72.00 to $88.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 10.64% from the company’s current price.

A number of other analysts have also recently issued reports on PTGX. BMO Capital Markets reissued an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. Truist Financial upped their price target on shares of Protagonist Therapeutics from $76.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Leerink Partnrs raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. BTIG Research restated a “buy” rating and set a $82.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, October 28th. Finally, Johnson Rice set a $112.00 price objective on shares of Protagonist Therapeutics in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.08.

Protagonist Therapeutics Trading Down 0.3%

PTGX stock opened at $79.54 on Friday. The business’s 50-day moving average price is $68.54 and its two-hundred day moving average price is $57.56. The firm has a market cap of $4.95 billion, a PE ratio of 128.29 and a beta of 2.22. Protagonist Therapeutics has a 1-year low of $33.31 and a 1-year high of $93.25.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.03). The business had revenue of $4.71 million during the quarter, compared to the consensus estimate of $5.41 million. Protagonist Therapeutics had a return on equity of 6.78% and a net margin of 21.94%. On average, analysts forecast that Protagonist Therapeutics will post 2.43 earnings per share for the current year.

Insider Activity at Protagonist Therapeutics

In other news, Director William D. Waddill sold 12,000 shares of the business’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $81.62, for a total value of $979,440.00. Following the sale, the director owned 5,130 shares of the company’s stock, valued at $418,710.60. The trade was a 70.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 20,000 shares of company stock valued at $1,473,440 over the last 90 days. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTGX. GSA Capital Partners LLP bought a new stake in Protagonist Therapeutics during the 3rd quarter worth about $391,000. PNC Financial Services Group Inc. increased its position in shares of Protagonist Therapeutics by 13.4% in the third quarter. PNC Financial Services Group Inc. now owns 2,738 shares of the company’s stock valued at $182,000 after acquiring an additional 324 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Protagonist Therapeutics in the third quarter valued at about $62,000. Public Sector Pension Investment Board raised its holdings in Protagonist Therapeutics by 8.0% during the third quarter. Public Sector Pension Investment Board now owns 228,146 shares of the company’s stock worth $15,156,000 after acquiring an additional 16,865 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Protagonist Therapeutics by 20.4% during the third quarter. Illinois Municipal Retirement Fund now owns 33,183 shares of the company’s stock valued at $2,204,000 after purchasing an additional 5,614 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

About Protagonist Therapeutics

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.