Zacks Investment Research upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $13.00 target price on the stock.
According to Zacks, “Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a proprietary technology platform focused on discovering and developing peptide-based new chemical entities to address significant unmet medical needs. The Company’s initial lead product candidates consists of PTG-100 and PTG-200, which have the potential to transform the existing treatment paradigm for inflammatory bowel disease, a GI disease consisting primarily of ulcerative colitis and Crohn’s disease; PTG-300, an injectable hepcidin mimetic. Protagonist Therapeutics, Inc. is based in Milpitas, United States. “
A number of other research firms have also recently weighed in on PTGX. BidaskClub cut Protagonist Therapeutics from a buy rating to a hold rating in a research report on Tuesday. ValuEngine cut Protagonist Therapeutics from a strong-buy rating to a buy rating in a research report on Monday, September 30th. Svb Leerink reissued an outperform rating on shares of Protagonist Therapeutics in a research report on Tuesday, August 13th. HC Wainwright set a $23.00 price objective on Protagonist Therapeutics and gave the stock a buy rating in a research report on Friday, August 2nd. Finally, Nomura reissued a buy rating and issued a $29.00 price objective on shares of Protagonist Therapeutics in a research report on Sunday, August 11th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $19.80.
Shares of Protagonist Therapeutics stock traded up $0.07 during trading on Wednesday, reaching $11.57. The company’s stock had a trading volume of 2,422 shares, compared to its average volume of 188,808. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.08. The company has a market cap of $313.00 million, a price-to-earnings ratio of -6.67 and a beta of 1.72. Protagonist Therapeutics has a 1-year low of $5.49 and a 1-year high of $16.67. The company has a 50-day simple moving average of $13.44 and a two-hundred day simple moving average of $11.92.
Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.90). The business had revenue of ($8.19) million during the quarter, compared to analyst estimates of $10.77 million. Protagonist Therapeutics had a negative return on equity of 62.50% and a negative net margin of 209.02%. As a group, analysts anticipate that Protagonist Therapeutics will post -3.24 earnings per share for the current year.
In other news, CEO Dinesh V. Ph D. Patel sold 10,792 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total value of $95,509.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Y. Liu sold 3,395 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total value of $30,045.75. The disclosure for this sale can be found here. Insiders own 14.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. VHCP Management III LLC lifted its holdings in shares of Protagonist Therapeutics by 32.5% in the 2nd quarter. VHCP Management III LLC now owns 1,072,348 shares of the company’s stock valued at $12,986,000 after buying an additional 263,025 shares during the period. BlackRock Inc. increased its stake in shares of Protagonist Therapeutics by 271.6% in the 2nd quarter. BlackRock Inc. now owns 1,017,421 shares of the company’s stock valued at $12,321,000 after purchasing an additional 743,632 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Protagonist Therapeutics by 14.4% in the 2nd quarter. Vanguard Group Inc. now owns 800,484 shares of the company’s stock valued at $9,694,000 after purchasing an additional 100,960 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Protagonist Therapeutics by 99.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 558,729 shares of the company’s stock valued at $6,693,000 after purchasing an additional 278,066 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Protagonist Therapeutics by 26.5% in the 2nd quarter. Renaissance Technologies LLC now owns 512,300 shares of the company’s stock valued at $6,204,000 after purchasing an additional 107,300 shares in the last quarter. 73.41% of the stock is owned by institutional investors and hedge funds.
About Protagonist Therapeutics
Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.
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