Wall Street Zen downgraded shares of Protagonist Therapeutics (NASDAQ:PTGX – Free Report) from a strong-buy rating to a buy rating in a research note published on Saturday morning.
A number of other analysts have also commented on PTGX. Johnson Rice set a $165.00 price objective on Protagonist Therapeutics in a report on Friday, July 17th. The Goldman Sachs Group restated a “neutral” rating and issued a $110.00 target price on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. Barclays upped their price target on Protagonist Therapeutics from $151.00 to $153.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Truist Financial increased their price target on Protagonist Therapeutics from $121.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $137.86.
Check Out Our Latest Research Report on PTGX
Protagonist Therapeutics Trading Up 2.8%
Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The company had revenue of $213.47 million during the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics’s revenue was up 3746.8% on a year-over-year basis. On average, research analysts forecast that Protagonist Therapeutics will post 3.51 EPS for the current year.
Insiders Place Their Bets
In related news, Director William D. Waddill sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares in the company, valued at approximately $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 27,000 shares of company stock worth $2,927,340 in the last three months. 5.19% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Protagonist Therapeutics
Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Protagonist Therapeutics by 30.6% in the first quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after buying an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Protagonist Therapeutics by 0.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after buying an additional 348 shares during the period. Millennium Management LLC lifted its position in shares of Protagonist Therapeutics by 283.6% during the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after buying an additional 99,269 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Protagonist Therapeutics during the 2nd quarter worth $987,000. Finally, Guggenheim Capital LLC increased its holdings in Protagonist Therapeutics by 1.6% in the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after acquiring an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.
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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