Protagonist Therapeutics (NASDAQ:PTGX) Price Target Increased to $51.00 by Analysts at BTIG Research

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective raised by BTIG Research from $41.00 to $51.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 22.68% from the stock’s previous close.

A number of other research analysts also recently commented on PTGX. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Protagonist Therapeutics in a report on Friday, June 14th. JMP Securities reissued a “market outperform” rating and issued a $45.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, June 17th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

Protagonist Therapeutics Trading Down 0.8 %

Shares of NASDAQ:PTGX opened at $41.57 on Wednesday. Protagonist Therapeutics has a 12 month low of $13.72 and a 12 month high of $42.67. The company has a 50-day moving average price of $33.45 and a 200 day moving average price of $29.50. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 17.04 and a beta of 2.13.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.75. The business had revenue of $254.95 million during the quarter, compared to the consensus estimate of $300.00 million. As a group, equities analysts forecast that Protagonist Therapeutics will post 2.28 EPS for the current year.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $35.00, for a total transaction of $280,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $420,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the transaction, the chief executive officer now directly owns 515,415 shares of the company’s stock, valued at $18,137,453.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $35.00, for a total transaction of $280,000.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at $420,000. The disclosure for this sale can be found here. 5.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP increased its holdings in Protagonist Therapeutics by 179.8% during the first quarter. GSA Capital Partners LLP now owns 55,359 shares of the company’s stock valued at $1,602,000 after buying an additional 35,571 shares during the period. Kynam Capital Management LP increased its holdings in Protagonist Therapeutics by 10.2% during the fourth quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock valued at $45,972,000 after buying an additional 186,218 shares during the period. ADAR1 Capital Management LLC purchased a new position in Protagonist Therapeutics during the fourth quarter valued at approximately $4,606,000. Opaleye Management Inc. purchased a new position in Protagonist Therapeutics during the fourth quarter valued at approximately $2,584,000. Finally, Superstring Capital Management LP purchased a new position in Protagonist Therapeutics during the fourth quarter valued at approximately $8,694,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Company Profile

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.