HC Wainwright Reaffirms “Buy” Rating for Protagonist Therapeutics (NASDAQ:PTGX)

HC Wainwright restated their buy rating on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report published on Tuesday morning,Benzinga reports. The firm currently has a $50.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Truist Financial started coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Monday, November 4th. Finally, BTIG Research upped their price target on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $53.57.

Protagonist Therapeutics Stock Down 4.3 %

PTGX stock opened at $38.65 on Tuesday. The company has a market capitalization of $2.30 billion, a P/E ratio of 14.64 and a beta of 2.17. The company has a 50-day simple moving average of $45.55 and a 200 day simple moving average of $38.90. Protagonist Therapeutics has a fifty-two week low of $16.63 and a fifty-two week high of $48.89.

Insider Activity

In other news, insider Arturo Md Molina sold 1,906 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $40.98, for a total value of $78,107.88. Following the transaction, the insider now owns 46,444 shares in the company, valued at $1,903,275.12. This represents a 3.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,109 shares of company stock worth $1,069,999 in the last 90 days. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Large investors have recently made changes to their positions in the business. Sei Investments Co. increased its holdings in Protagonist Therapeutics by 12.2% in the first quarter. Sei Investments Co. now owns 41,758 shares of the company’s stock worth $1,208,000 after buying an additional 4,529 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Protagonist Therapeutics in the first quarter worth approximately $35,000. ProShare Advisors LLC increased its holdings in Protagonist Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock worth $415,000 after buying an additional 1,206 shares during the last quarter. Vanguard Group Inc. increased its holdings in Protagonist Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after buying an additional 39,055 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in Protagonist Therapeutics in the first quarter worth approximately $202,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

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.