Protagonist Therapeutics (NASDAQ:PTGX) Given New $98.00 Price Target at Citigroup

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective upped by Citigroup from $96.00 to $98.00 in a research note published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $82.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. Wedbush boosted their target price on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Leerink Partners began coverage on shares of Protagonist Therapeutics in a research note on Friday, September 12th. They set an “outperform” rating and a $73.00 target price for the company. Finally, JMP Securities lifted their price target on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued 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 has a consensus rating of “Moderate Buy” and a consensus target price of $82.23.

Protagonist Therapeutics Price Performance

PTGX opened at $83.23 on Monday. The business has a 50 day moving average price of $69.03 and a two-hundred day moving average price of $57.91. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 134.24 and a beta of 2.21. Protagonist Therapeutics has a 1-year low of $33.31 and a 1-year high of $93.25.

Protagonist Therapeutics (NASDAQ:PTGX) last issued 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). Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. The firm had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. Equities analysts expect that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

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

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in Protagonist Therapeutics during the 2nd quarter valued at $27,000. Bessemer Group Inc. grew its holdings in shares of Protagonist Therapeutics by 171.0% during the second quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock valued at $28,000 after buying an additional 318 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in Protagonist Therapeutics during the third quarter valued at $29,000. CWM LLC lifted its stake in Protagonist Therapeutics by 201.5% in the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock worth $34,000 after acquiring an additional 407 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Protagonist Therapeutics by 138.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $36,000 after acquiring an additional 314 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.