Protagonist Therapeutics (NASDAQ:PTGX) Stock Rating Upgraded by StockNews.com

Protagonist Therapeutics (NASDAQ:PTGXGet Free Report) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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

View Our Latest Report on Protagonist Therapeutics

Protagonist Therapeutics Price Performance

NASDAQ:PTGX traded up $0.84 on Wednesday, reaching $30.43. 605,228 shares of the company’s stock were exchanged, compared to its average volume of 799,523. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -11.61 and a beta of 2.02. Protagonist Therapeutics has a 52 week low of $13.72 and a 52 week high of $31.40. The stock has a fifty day simple moving average of $25.48 and a 200-day simple moving average of $20.36.

Protagonist Therapeutics (NASDAQ:PTGXGet Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.39. The firm had revenue of $60.00 million during the quarter, compared to the consensus estimate of $60.00 million. As a group, sell-side analysts predict that Protagonist Therapeutics will post -2.01 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In related news, insider Suneel Gupta sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the sale, the insider now directly owns 187,567 shares of the company’s stock, valued at $4,689,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PTGX. China Universal Asset Management Co. Ltd. raised its stake in shares of Protagonist Therapeutics by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,473 shares of the company’s stock worth $25,000 after acquiring an additional 723 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Protagonist Therapeutics during the second quarter worth approximately $76,000. Tower Research Capital LLC TRC raised its stake in shares of Protagonist Therapeutics by 88.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,118 shares of the company’s stock worth $86,000 after acquiring an additional 1,460 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Protagonist Therapeutics by 273.3% during the third quarter. Jane Street Group LLC now owns 10,289 shares of the company’s stock worth $87,000 after acquiring an additional 7,533 shares in the last quarter. Finally, Virtus ETF Advisers LLC raised its stake in shares of Protagonist Therapeutics by 29.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,457 shares of the company’s stock worth $102,000 after acquiring an additional 1,017 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

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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