Protagonist Therapeutics (NASDAQ:PTGX) Releases Quarterly Earnings Results, Beats Expectations By $0.39 EPS

Protagonist Therapeutics (NASDAQ:PTGXGet Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.39, MarketWatch Earnings reports. The company had revenue of $60.00 million during the quarter, compared to analysts’ expectations of $60.00 million.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX opened at $30.43 on Thursday. Protagonist Therapeutics has a fifty-two week low of $13.72 and a fifty-two week high of $31.40. The business has a 50 day moving average price of $25.48 and a 200-day moving average price of $20.36.

Insider Activity

In other news, insider Suneel Gupta sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the insider now owns 187,567 shares of the company’s stock, valued at $4,689,175. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.00% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTGX. State Street Corp lifted its stake in Protagonist Therapeutics by 108.1% in the second quarter. State Street Corp now owns 6,776,269 shares of the company’s stock worth $53,600,000 after acquiring an additional 3,519,461 shares during the period. Point72 Asset Management L.P. lifted its stake in Protagonist Therapeutics by 135.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,613,453 shares of the company’s stock worth $59,926,000 after acquiring an additional 1,505,313 shares during the period. Perceptive Advisors LLC purchased a new stake in Protagonist Therapeutics in the first quarter worth $22,198,000. Holocene Advisors LP purchased a new stake in Protagonist Therapeutics in the second quarter worth $22,166,000. Finally, BlackRock Inc. raised its holdings in Protagonist Therapeutics by 20.5% in the first quarter. BlackRock Inc. now owns 4,402,217 shares of the company’s stock worth $101,251,000 after purchasing an additional 750,060 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PTGX. HC Wainwright restated a “buy” rating and issued a $38.00 price objective on shares of Protagonist Therapeutics in a research note on Wednesday. JMP Securities upped their price objective on shares of Protagonist Therapeutics from $35.00 to $37.00 and gave the stock a “market outperform” rating in a research report on Friday, November 3rd. JPMorgan Chase & Co. upped their target price on Protagonist Therapeutics from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, StockNews.com raised Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Read Our Latest Stock Report on PTGX

Protagonist Therapeutics Company Profile

(Get Free Report)

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 is in Phase II clinical trials for the treatment of erythrocytosis, iron overload, and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that is in Phase II 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, which is in Phase II clinical trials for inflammatory bowel disease.

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Earnings History for Protagonist Therapeutics (NASDAQ:PTGX)

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