Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Get Free Report) has earned an average rating of “Buy” from the seventeen research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $163.27.
A number of research firms have recently commented on PTGX. Wedbush increased their price target on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Wall Street Zen lowered shares of Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 10th. Citigroup upped their price objective on Protagonist Therapeutics from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, August 31st. Zacks Research upgraded Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 14th. Finally, HC Wainwright increased their target price on Protagonist Therapeutics from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 31st.
Get Our Latest Stock Analysis on PTGX
Protagonist Therapeutics Stock Performance
Shares of PTGX stock opened at $144.85 on Tuesday. Protagonist Therapeutics has a one year low of $75.44 and a one year high of $160.81. The company’s 50-day moving average is $142.93 and its 200 day moving average is $116.47. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 140.63 and a beta of 1.53.
Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.02. The business had revenue of $213.47 million during the quarter, compared to analyst estimates of $212.03 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The firm’s quarterly revenue was up 3746.8% on a year-over-year basis. As a group, research analysts predict that Protagonist Therapeutics will post 4.59 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Asif Ali sold 58,629 shares of the company’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total transaction of $8,312,419.62. Following the transaction, the chief financial officer directly owned 59,003 shares of the company’s stock, valued at $8,365,445.34. This represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinsesh Patel sold 65,761 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $149.11, for a total value of $9,805,622.71. Following the sale, the chief executive officer directly owned 523,478 shares in the company, valued at $78,055,804.58. This trade represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 283,629 shares of company stock worth $41,443,786. Corporate insiders own 5.19% of the company’s stock.
Hedge Funds Weigh In On Protagonist Therapeutics
Several hedge funds and other institutional investors have recently bought and sold shares of PTGX. Bank of America Corp DE purchased a new position in shares of Protagonist Therapeutics in the 2nd quarter worth $162,357,000. Johnson & Johnson purchased a new stake in Protagonist Therapeutics during the second quarter valued at $300,220,852. Hsbc Holdings PLC increased its position in Protagonist Therapeutics by 1,260.9% during the second quarter. Hsbc Holdings PLC now owns 25,952 shares of the company’s stock valued at $3,198,000 after acquiring an additional 24,045 shares during the last quarter. Deutsche Bank AG purchased a new stake in Protagonist Therapeutics during the second quarter valued at $17,387,000. Finally, Stempoint Capital LP lifted its holdings in Protagonist Therapeutics by 22.1% in the first quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock valued at $7,650,000 after acquiring an additional 13,147 shares during the period. Institutional investors own 98.63% of the company’s stock.
About Protagonist Therapeutics
Protagonist Therapeutics, Inc is a biopharmaceutical company focused on discovering and developing peptide-based medicines for immune-mediated and hematologic diseases. The company uses its proprietary peptide technology platform to design therapies intended to act on specific biological pathways and receptors.
Its leading program is icotrokinra, also known as JNJ-2113, an oral, targeted inhibitor of the interleukin-23 receptor being developed in collaboration with Janssen Pharmaceuticals for inflammatory and immune-mediated conditions, including psoriasis and inflammatory bowel diseases.
Featured Stories
- Five stocks we like better than Protagonist Therapeutics
- Starbucks Says Its Turnaround Is Done—The Numbers Make a Strong Case (With 1 Catch)
- 3 Robotics ETFs, 3 Different Ways to Bet on Humanoid Robots
- Can Microsoft Turn a Leaner Workforce and Record AI Spending Into Bigger Profits?
- Why JFrog Could Be the Software Infrastructure Company to Beat in the AI Boom
Receive News & Ratings for Protagonist Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Protagonist Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
