Protagonist Therapeutics’ (PTGX) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Protagonist Therapeutics (NASDAQ:PTGXFree Report) in a report published on Monday morning, Benzinga reports. JMP Securities currently has a $45.00 target price on the stock.

PTGX has been the subject of several other research reports. HC Wainwright reaffirmed a buy rating and set a $38.00 price target on shares of Protagonist Therapeutics in a research note on Friday, June 14th. StockNews.com upgraded Protagonist Therapeutics from a sell rating to a hold rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the company an overweight rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $38.00.

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Protagonist Therapeutics Trading Down 3.6 %

PTGX stock opened at $31.43 on Monday. Protagonist Therapeutics has a 1-year low of $13.72 and a 1-year high of $35.96. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 12.88 and a beta of 2.12. The company’s 50 day moving average is $29.22 and its 200 day moving average is $27.11.

Protagonist Therapeutics (NASDAQ:PTGXGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.75. The company had revenue of $254.95 million during the quarter, compared to the consensus estimate of $300.00 million. As a group, sell-side analysts forecast that Protagonist Therapeutics will post 2.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Protagonist Therapeutics news, CFO Asif Ali sold 1,234 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $25.11, for a total value of $30,985.74. Following the sale, the chief financial officer now owns 37,163 shares of the company’s stock, valued at approximately $933,162.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Protagonist Therapeutics news, CFO Asif Ali sold 1,234 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $25.11, for a total value of $30,985.74. Following the completion of the sale, the chief financial officer now owns 37,163 shares in the company, valued at approximately $933,162.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $28.31, for a total value of $707,750.00. Following the transaction, the chief executive officer now directly owns 549,590 shares in the company, valued at $15,558,892.90. The disclosure for this sale can be found here. Insiders have sold a total of 69,234 shares of company stock valued at $2,250,386 over the last three months. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Protagonist Therapeutics by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 34,895 shares of the company’s stock valued at $1,010,000 after purchasing an additional 849 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Protagonist Therapeutics by 5.9% during the third quarter. State Board of Administration of Florida Retirement System now owns 16,303 shares of the company’s stock valued at $272,000 after buying an additional 910 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Protagonist Therapeutics by 11.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,338 shares of the company’s stock valued at $237,000 after buying an additional 1,093 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Protagonist Therapeutics by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock valued at $415,000 after buying an additional 1,206 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Protagonist Therapeutics in the 1st quarter worth about $35,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

About Protagonist Therapeutics

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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 completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b 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 completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.

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