Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Get Free Report) traded up 8.4% during mid-day trading on Tuesday . The stock traded as high as $104.82 and last traded at $106.2370. 519,701 shares changed hands during trading, a decline of 29% from the average session volume of 730,347 shares. The stock had previously closed at $98.03.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on PTGX shares. TD Cowen upped their target price on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Jefferies Financial Group restated a “buy” rating and set a $121.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. Citigroup restated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Wednesday, May 6th. Citizens Jmp upped their target price on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Finally, Leerink Partners upped their target price on shares of Protagonist Therapeutics from $107.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $115.21.
Get Our Latest Analysis on Protagonist Therapeutics
Protagonist Therapeutics Stock Performance
Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million for the quarter, compared to the consensus estimate of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. On average, analysts forecast that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Bryan Giraudo sold 6,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $100.00, for a total value of $600,000.00. Following the sale, the director directly owned 31,825 shares in the company, valued at $3,182,500. This trade represents a 15.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Asif Ali sold 1,750 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $105.47, for a total transaction of $184,572.50. Following the completion of the sale, the chief financial officer owned 59,003 shares in the company, valued at $6,223,046.41. This represents a 2.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 263,345 shares of company stock worth $26,707,266 over the last ninety days. Company insiders own 5.19% of the company’s stock.
Institutional Trading of Protagonist Therapeutics
A number of hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 156 shares in the last quarter. Greenline Wealth Management LLC bought a new stake in Protagonist Therapeutics during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its stake in Protagonist Therapeutics by 138.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $36,000 after purchasing an additional 314 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in Protagonist Therapeutics during the 3rd quarter worth approximately $62,000. Finally, Osaic Holdings Inc. increased its stake in Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after purchasing an additional 525 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.
About Protagonist Therapeutics
Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.
Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.
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